Desjardins Global Asset Management Inc. Sells 6,264 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Desjardins Global Asset Management Inc. trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,867 shares of the semiconductor company’s stock after selling 6,264 shares during the quarter. Analog Devices accounts for 0.5% of Desjardins Global Asset Management Inc.’s portfolio, making the stock its 26th largest position. Desjardins Global Asset Management Inc.’s holdings in Analog Devices were worth $5,136,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State Street Corp increased its stake in shares of Analog Devices by 1.2% in the first quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock valued at $4,024,078,000 after buying an additional 238,249 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after acquiring an additional 2,497,696 shares during the last quarter. Invesco Ltd. boosted its holdings in Analog Devices by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after acquiring an additional 701,367 shares during the last quarter. Norges Bank bought a new position in Analog Devices during the fourth quarter worth about $1,040,194,000. Finally, Morgan Stanley boosted its holdings in Analog Devices by 16.1% during the fourth quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock worth $982,344,000 after buying an additional 830,281 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADI has been the topic of several recent analyst reports. Barclays lifted their price objective on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Truist Financial cut their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a report on Thursday, February 22nd. Edward Jones upgraded Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Finally, The Goldman Sachs Group lifted their target price on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Price Performance

Analog Devices stock traded up $2.10 during midday trading on Tuesday, hitting $192.39. 1,354,828 shares of the company’s stock were exchanged, compared to its average volume of 3,337,347. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $204.20. The stock has a 50-day moving average price of $193.20 and a two-hundred day moving average price of $186.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market cap of $95.41 billion, a P/E ratio of 34.04, a PEG ratio of 4.82 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business earned $2.75 EPS. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. On average, equities research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is 65.83%.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock valued at $4,825,113. Insiders own 0.31% of the company’s stock.

Analog Devices 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.