OMERS ADMINISTRATION Corp Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

OMERS ADMINISTRATION Corp lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 92.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,747 shares of the semiconductor company’s stock after selling 241,003 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Analog Devices were worth $4,408,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Broderick Brian C grew its position in Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock valued at $16,831,000 after acquiring an additional 2,017 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of Analog Devices in the fourth quarter valued at $10,212,000. Curbstone Financial Management Corp acquired a new stake in Analog Devices during the 4th quarter valued at $460,000. Synergy Asset Management LLC increased its stake in Analog Devices by 11.1% during the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after buying an additional 2,554 shares during the period. Finally, RFG Advisory LLC increased its stake in Analog Devices by 3.9% during the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after buying an additional 77 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADI shares. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Truist Financial boosted their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. Finally, Stifel Nicolaus cut their target price on Analog Devices from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.20.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock worth $8,735,156 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Up 1.6%

ADI stock opened at $226.68 on Wednesday. The firm has a market cap of $112.43 billion, a price-to-earnings ratio of 72.19, a PEG ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The firm has a fifty day moving average price of $195.99 and a two-hundred day moving average price of $210.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

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

About Analog Devices

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.