TD Asset Management Inc lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 3.0% during the 4th quarter, HoldingsChannel reports. The fund owned 355,610 shares of the semiconductor company’s stock after selling 11,156 shares during the quarter. TD Asset Management Inc’s holdings in Analog Devices were worth $96,441,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ADI. Norges Bank acquired a new position in shares of Analog Devices in the 4th quarter valued at $2,215,516,000. Amundi lifted its stake in shares of Analog Devices by 44.8% in the 3rd quarter. Amundi now owns 6,215,129 shares of the semiconductor company’s stock valued at $1,507,740,000 after purchasing an additional 1,922,302 shares during the period. Raymond James Financial Inc. increased its stake in Analog Devices by 29.2% in the third quarter. Raymond James Financial Inc. now owns 4,829,931 shares of the semiconductor company’s stock valued at $1,186,714,000 after purchasing an additional 1,091,004 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Analog Devices by 3,456.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,059,726 shares of the semiconductor company’s stock worth $287,398,000 after purchasing an additional 1,029,927 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in Analog Devices by 47.5% in the second quarter. Rafferty Asset Management LLC now owns 1,802,338 shares of the semiconductor company’s stock worth $428,992,000 after purchasing an additional 580,546 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.
Analog Devices Stock Performance
Shares of Analog Devices stock opened at $428.93 on Friday. The company has a market capitalization of $208.93 billion, a PE ratio of 63.73, a PEG ratio of 1.23 and a beta of 1.18. Analog Devices, Inc. has a 12 month low of $217.02 and a 12 month high of $439.70. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $380.81 and its 200 day simple moving average is $328.01.
Analog Devices Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 2nd. Analog Devices’s dividend payout ratio is 65.38%.
Analyst Ratings Changes
A number of analysts recently commented on ADI shares. Morgan Stanley restated an “overweight” rating and issued a $373.00 price objective on shares of Analog Devices in a research report on Thursday, February 19th. Stifel Nicolaus raised their price objective on Analog Devices from $405.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Citigroup raised their price objective on Analog Devices from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Piper Sandler raised their price objective on Analog Devices from $250.00 to $360.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Finally, Bank of America raised their price objective on Analog Devices from $425.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $432.71.
Read Our Latest Stock Analysis on Analog Devices
Insider Transactions at Analog Devices
In other Analog Devices news, SVP Martin Cotter sold 17,594 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $418.00, for a total transaction of $7,354,292.00. Following the completion of the transaction, the senior vice president owned 56,332 shares in the company, valued at approximately $23,546,776. This represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 30,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $415.13, for a total value of $12,453,900.00. Following the transaction, the chief executive officer owned 137,538 shares of the company’s stock, valued at approximately $57,096,149.94. This trade represents a 17.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 97,594 shares of company stock valued at $38,873,292. Corporate insiders own 0.36% of the company’s stock.
Analog Devices 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.
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