TD Asset Management Inc. Purchases 38,530 Shares of Analog Devices, Inc. (NASDAQ:ADI)

TD Asset Management Inc. lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.6% during the fourth quarter, HoldingsChannel reports. The firm owned 488,261 shares of the semiconductor company’s stock after buying an additional 38,530 shares during the quarter. TD Asset Management Inc.’s holdings in Analog Devices were worth $103,736,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. EFG Asset Management North America Corp. grew its position in shares of Analog Devices by 9.0% in the 4th quarter. EFG Asset Management North America Corp. now owns 14,162 shares of the semiconductor company’s stock valued at $3,010,000 after purchasing an additional 1,170 shares during the period. Taikang Asset Management Hong Kong Co Ltd lifted its stake in Analog Devices by 35.6% in the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 12,200 shares of the semiconductor company’s stock valued at $2,592,000 after buying an additional 3,200 shares in the last quarter. ICW Investment Advisors LLC increased its position in shares of Analog Devices by 11.0% during the fourth quarter. ICW Investment Advisors LLC now owns 2,055 shares of the semiconductor company’s stock worth $437,000 after acquiring an additional 203 shares in the last quarter. Twin City Private Wealth LLC raised its holdings in shares of Analog Devices by 2.8% during the fourth quarter. Twin City Private Wealth LLC now owns 3,912 shares of the semiconductor company’s stock worth $831,000 after acquiring an additional 107 shares during the period. Finally, Dillon & Associates Inc. lifted its position in Analog Devices by 10.5% in the 4th quarter. Dillon & Associates Inc. now owns 5,840 shares of the semiconductor company’s stock valued at $1,238,000 after acquiring an additional 555 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ADI shares. Lake Street Capital assumed coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Barclays dropped their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company upped their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. 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. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Performance

Shares of ADI stock opened at $213.58 on Wednesday. The company has a market capitalization of $105.93 billion, a price-to-earnings ratio of 68.02, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a 50-day simple moving average of $217.13 and a 200 day simple moving average of $219.78.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,000 shares of company stock worth $5,082,860. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Company 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.