National Bank of Canada FI Purchases 336,989 Shares of Analog Devices, Inc. (NASDAQ:ADI)

National Bank of Canada FI lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 131.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 593,156 shares of the semiconductor company’s stock after purchasing an additional 336,989 shares during the quarter. National Bank of Canada FI owned 0.12% of Analog Devices worth $114,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADI. Massachusetts Financial Services Co. MA raised its stake in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB grew its stake in Analog Devices by 639.7% during the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after buying an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Analog Devices by 20,527.8% during the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after buying an additional 930,732 shares in the last quarter. Alecta Tjanstepension Omsesidigt boosted its holdings in shares of Analog Devices by 193.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after acquiring an additional 775,000 shares in the last quarter. Finally, Invesco Ltd. grew its position in Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after acquiring an additional 701,367 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research report on Thursday, January 18th. The Goldman Sachs Group upped their price target on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Truist Financial cut their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, KeyCorp increased their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Price Performance

NASDAQ:ADI traded up $3.14 during trading hours on Friday, hitting $199.63. The company’s stock had a trading volume of 2,372,862 shares, compared to its average volume of 3,339,473. The stock has a fifty day simple moving average of $194.27 and a 200-day simple moving average of $188.38. The company has a market capitalization of $99.00 billion, a P/E ratio of 35.71, a PEG ratio of 5.01 and a beta of 1.14. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $2.75 earnings per share. Analog Devices’s quarterly revenue was down 22.7% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.84%. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,075,098.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,707 shares of company stock worth $4,874,613. Company insiders own 0.31% 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.