Intact Investment Management Inc. Has $4.40 Million Position in Analog Devices, Inc. $ADI

Intact Investment Management Inc. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 43.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,500 shares of the semiconductor company’s stock after selling 14,300 shares during the quarter. Intact Investment Management Inc.’s holdings in Analog Devices were worth $4,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ADI. Solstein Capital LLC raised its position in shares of Analog Devices by 2.0% during the second quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after acquiring an additional 46 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Analog Devices by 7.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,001,839 shares of the semiconductor company’s stock valued at $238,458,000 after acquiring an additional 71,735 shares during the last quarter. West Family Investments Inc. acquired a new stake in Analog Devices during the 2nd quarter valued at approximately $376,000. Nisa Investment Advisors LLC raised its holdings in Analog Devices by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 203,286 shares of the semiconductor company’s stock worth $48,386,000 after purchasing an additional 24,425 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Analog Devices by 88.2% during the 2nd quarter. Bank of Montreal Can now owns 1,040,536 shares of the semiconductor company’s stock worth $247,668,000 after purchasing an additional 487,535 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 1,000 shares of the business’s stock in a transaction 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 completion of the sale, the director owned 5,118 shares in the company, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the transaction, the director owned 142,571 shares in the company, valued at approximately $32,821,269.91. The trade was a 2.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 27,250 shares of company stock valued at $6,520,371. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. Cfra reiterated a “buy” rating and set a $280.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Bank of America boosted their target price 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. Wells Fargo & Company increased their price target on Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 21st. Finally, Benchmark reissued a “buy” rating and issued a $285.00 price objective on shares of Analog Devices in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $283.61.

Analog Devices Stock Performance

Shares of ADI opened at $281.57 on Thursday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $283.23. The company has a market cap of $137.87 billion, a PE ratio of 61.75, a P/E/G ratio of 1.54 and a beta of 1.04. The stock has a 50-day moving average of $244.56 and a 200-day moving average of $239.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

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

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be issued 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.