Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 571.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,400 shares of the semiconductor company's stock after purchasing an additional 29,280 shares during the quarter. Intact Investment Management Inc.'s holdings in Analog Devices were worth $7,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADI. Swedbank AB increased its position in shares of Analog Devices by 6.7% in the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock valued at $666,137,000 after purchasing an additional 180,870 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Analog Devices by 7.7% during the third quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company's stock worth $352,728,000 after purchasing an additional 110,448 shares in the last quarter. United Bank increased its holdings in Analog Devices by 4.7% in the third quarter. United Bank now owns 6,056 shares of the semiconductor company's stock valued at $1,394,000 after buying an additional 273 shares during the last quarter. Sigma Planning Corp raised its stake in Analog Devices by 32.5% in the third quarter. Sigma Planning Corp now owns 3,121 shares of the semiconductor company's stock valued at $718,000 after buying an additional 765 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in Analog Devices by 6.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 12,368 shares of the semiconductor company's stock worth $2,847,000 after buying an additional 720 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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Analog Devices Stock Performance

Shares of Analog Devices stock traded down $2.52 on Tuesday, reaching $209.16. 2,657,007 shares of the stock were exchanged, compared to its average volume of 3,100,512. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $103.74 billion, a PE ratio of 66.61, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The business has a fifty day moving average price of $217.96 and a two-hundred day moving average price of $220.40.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is presently 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ADI shares. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Truist Financial boosted their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Finally, Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.