Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 62.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,450 shares of the semiconductor company's stock after selling 4,111 shares during the quarter. Scotia Capital Inc.'s holdings in Analog Devices were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in Analog Devices in the fourth quarter worth approximately $30,000. Mainstream Capital Management LLC bought a new position in shares of Analog Devices during the 4th quarter worth $30,000. Cassady Schiller Wealth Management LLC increased its stake in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices in the fourth quarter valued at about $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,809 shares of company stock valued at $6,154,756. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

ADI has been the topic of a number of research reports. Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Stifel Nicolaus cut their price objective on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday. Truist Financial upped their target price on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Barclays cut their price target on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Finally, Citigroup decreased their price objective on Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average price target of $254.05.

Analog Devices Stock Performance

NASDAQ:ADI traded up $0.34 during trading hours on Friday, reaching $176.27. The company had a trading volume of 3,341,234 shares, compared to its average volume of 3,460,473. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market cap of $87.43 billion, a PE ratio of 56.14, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The business's 50 day moving average price is $206.00 and its 200-day moving average price is $214.15. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10.

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

Analog Devices declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

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.