Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,923 shares of the semiconductor company’s stock after buying an additional 497 shares during the period. TD Waterhouse Canada Inc.’s holdings in Analog Devices were worth $1,471,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADI. Norges Bank acquired a new position in Analog Devices during the fourth quarter worth approximately $1,755,958,000. Raymond James Financial Inc. acquired a new position in shares of Analog Devices in the 4th quarter valued at $833,386,000. Proficio Capital Partners LLC raised its position in Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. boosted its stake in Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in Analog Devices during the 4th quarter worth $111,470,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,809 shares of company stock valued at $6,154,756 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Analog Devices Trading Up 6.6 %

Shares of Analog Devices stock opened at $195.23 on Friday. The business has a 50 day moving average price of $203.77 and a 200 day moving average price of $213.11. The company has a market capitalization of $96.83 billion, a P/E ratio of 62.18, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the business earned $1.73 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.03%. Analog Devices’s payout ratio is 126.11%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ADI shares. Citigroup lowered their price target on Analog Devices from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Morgan Stanley set a $214.00 price target on Analog Devices in a report on Monday. UBS Group boosted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Truist Financial boosted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.43.

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.