Investment Management Corp of Ontario Has $44.74 Million Holdings in Analog Devices, Inc. $ADI

Investment Management Corp of Ontario trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,960 shares of the semiconductor company’s stock after selling 35,251 shares during the period. Analog Devices accounts for approximately 0.7% of Investment Management Corp of Ontario’s holdings, making the stock its 18th largest holding. Investment Management Corp of Ontario’s holdings in Analog Devices were worth $44,738,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. AXA S.A. increased its stake in shares of Analog Devices by 29.4% in the second quarter. AXA S.A. now owns 189,400 shares of the semiconductor company’s stock valued at $45,081,000 after buying an additional 43,058 shares in the last quarter. Lombard Odier Asset Management Switzerland SA lifted its position in Analog Devices by 19.1% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 17,525 shares of the semiconductor company’s stock worth $4,171,000 after buying an additional 2,805 shares in the last quarter. State Street Corp grew its holdings in Analog Devices by 2.2% during the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after acquiring an additional 506,507 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Analog Devices by 9.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 127,465 shares of the semiconductor company’s stock valued at $30,339,000 after acquiring an additional 11,368 shares in the last quarter. Finally, Certuity LLC lifted its position in shares of Analog Devices by 7.3% during the second quarter. Certuity LLC now owns 1,180 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADI. Bank of America raised their price target on shares of Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 21st. JPMorgan Chase & Co. boosted their target price on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Morgan Stanley raised their price target on Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, BNP Paribas assumed coverage on Analog Devices in a research report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.61.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the transaction, the director owned 5,118 shares of the company’s stock, valued at $1,242,343.32. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the sale, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at $38,447,218. The trade was a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,250 shares of company stock valued at $6,520,371 in the last 90 days. 0.33% of the stock is owned by insiders.

Analog Devices Stock Down 0.8%

NASDAQ:ADI opened at $279.13 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $283.23. The stock’s fifty day simple moving average is $243.10 and its 200-day simple moving average is $238.59. The firm has a market capitalization of $136.68 billion, a P/E ratio of 61.21, a P/E/G ratio of 1.56 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. Equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

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.