Intact Investment Management Inc. Trims Position in Analog Devices, Inc. $ADI

Intact Investment Management Inc. decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 41.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,800 shares of the semiconductor company’s stock after selling 7,700 shares during the period. Intact Investment Management Inc.’s holdings in Analog Devices were worth $2,654,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Howard Hughes Medical Institute acquired a new stake in Analog Devices during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC purchased a new stake in shares of Analog Devices during the second quarter worth approximately $26,000. Clayton Financial Group LLC acquired a new stake in shares of Analog Devices during the third quarter worth $31,000. Sound Income Strategies LLC grew its position in Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 95 shares during the last quarter. Finally, Access Investment Management LLC purchased a new position in Analog Devices in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $275.07, for a total value of $2,750,700.00. Following the completion of the sale, the chief executive officer owned 155,688 shares of the company’s stock, valued at $42,825,098.16. The trade was a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael Sondel sold 8,169 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the transaction, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,544 shares of company stock worth $14,328,561 in the last three months. 0.33% of the stock is currently owned by insiders.

Analog Devices Trading Down 0.5%

Analog Devices stock opened at $304.01 on Tuesday. The stock has a 50-day moving average price of $277.45 and a 200 day moving average price of $252.57. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $313.54. The stock has a market cap of $148.86 billion, a PE ratio of 66.67, a P/E/G ratio of 1.65 and a beta of 1.03. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. Equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America increased their target price on Analog Devices from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. KeyCorp upped their target price on shares of Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Wells Fargo & Company set a $340.00 price target on shares of Analog Devices and gave the company an “overweight” rating in a research report on Thursday, January 15th. Oppenheimer upped their price target on Analog Devices from $265.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Finally, Robert W. Baird raised their price objective on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.