Northwest & Ethical Investments L.P. Has $8.14 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Northwest & Ethical Investments L.P. decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 25.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,334 shares of the semiconductor company’s stock after selling 12,893 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Analog Devices were worth $8,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADI. Swedbank AB lifted its position in Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock worth $666,137,000 after acquiring an additional 180,870 shares during the last quarter. United Bank increased its holdings in shares of Analog Devices by 4.7% during the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after purchasing an additional 273 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Analog Devices by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company’s stock worth $5,832,000 after purchasing an additional 582 shares during the period. Quest Partners LLC bought a new position in shares of Analog Devices during the 3rd quarter worth about $210,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Analog Devices by 3.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 149,813 shares of the semiconductor company’s stock worth $34,482,000 after purchasing an additional 5,562 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related 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 value of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock worth $5,082,860 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of ADI stock opened at $205.90 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm’s 50 day moving average is $217.33 and its 200-day moving average is $220.05. The firm has a market capitalization of $102.12 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

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

Analog Devices announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.92%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio is currently 126.11%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADI. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. UBS Group boosted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley upped their target price on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

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.