Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 92.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,747 shares of the semiconductor company’s stock after selling 241,003 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Analog Devices were worth $4,408,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ADI. Fiduciary Alliance LLC acquired a new stake in Analog Devices in the fourth quarter valued at $1,317,000. Brookstone Capital Management increased its holdings in shares of Analog Devices by 21.9% in the 4th quarter. Brookstone Capital Management now owns 1,889 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 340 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Analog Devices by 7.6% in the fourth quarter. Capital Investment Advisors LLC now owns 1,020 shares of the semiconductor company’s stock valued at $217,000 after purchasing an additional 72 shares during the period. Wedmont Private Capital lifted its stake in shares of Analog Devices by 1.9% in the fourth quarter. Wedmont Private Capital now owns 4,406 shares of the semiconductor company’s stock valued at $936,000 after purchasing an additional 83 shares during the period. Finally, Elevated Capital Advisors LLC purchased a new stake in Analog Devices during the fourth quarter worth about $215,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI opened at $226.68 on Wednesday. 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 $112.43 billion, a PE ratio of 72.19, a P/E/G ratio of 2.85 and a beta of 0.98. The firm has a 50 day simple moving average of $195.99 and a 200-day simple moving average of $210.52. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10.

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

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADI. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Finally, UBS Group decreased their price objective on shares of Analog Devices from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $250.20.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director now directly owns 180,071 shares of the company’s stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer now owns 142,996 shares of the company’s stock, valued at $28,147,332.64. The trade was a 6.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is owned by company insiders.

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.