Scotia Capital Inc. Has $521,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Scotia Capital Inc. decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 62.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices during the fourth quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $41,000. 86.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ADI shares. Maxim Group initiated coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Barclays cut their target price on shares of 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. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.73.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock valued at $5,591,600 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Trading Down 0.3 %

Shares of NASDAQ:ADI opened at $178.60 on Tuesday. The firm has a market cap of $88.58 billion, a price-to-earnings ratio of 56.88, a PEG ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company’s fifty day simple moving average is $208.27 and its 200 day simple moving average is $215.55. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm 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 company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 2.22%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.