Toronto Dominion Bank Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Toronto Dominion Bank boosted its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 47.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 273,736 shares of the semiconductor company's stock after acquiring an additional 88,592 shares during the quarter. Toronto Dominion Bank owned 0.06% of Analog Devices worth $63,006,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in shares of Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the period. International Assets Investment Management LLC raised its position in Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock worth $2,043,000,000 after purchasing an additional 883,888 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company's stock worth $220,891,000 after buying an additional 853,931 shares during the period. Holocene Advisors LP grew its position in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company's stock valued at $245,953,000 after buying an additional 823,709 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company's stock valued at $993,293,000 after buying an additional 767,534 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

ADI stock traded up $0.60 during midday trading on Thursday, reaching $217.72. The company had a trading volume of 2,992,493 shares, compared to its average volume of 3,225,634. The firm has a 50-day moving average price of $222.57 and a 200-day moving average price of $225.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company has a market capitalization of $108.05 billion, a P/E ratio of 65.72, a P/E/G ratio of 2.48 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. The firm's revenue was down 10.1% on a year-over-year basis. On average, research analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADI shares. Piper Sandler reduced their price objective on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 27th. Bank of America lowered their price objective on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Oppenheimer restated an "outperform" rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Truist Financial lowered their target price on Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and an average target price of $249.33.

Insider Buying and Selling at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,000 shares of company stock worth $24,754,600. 0.31% of the stock is currently owned by company insiders.

About Analog Devices

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.