Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 59.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,993 shares of the semiconductor company’s stock after purchasing an additional 35,543 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Analog Devices were worth $21,683,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft increased its position in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after buying an additional 43 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in shares of Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after buying an additional 48 shares during the last quarter. SouthState Corp lifted its stake in shares of Analog Devices by 28.6% during the second quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 50 shares during the period. Finally, Investment Partners LTD. boosted its position in Analog Devices by 2.9% during the second quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 0.6 %

ADI opened at $227.33 on Wednesday. The firm’s 50 day moving average is $223.24 and its 200-day moving average is $216.85. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $112.81 billion, a P/E ratio of 53.11, a P/E/G ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 EPS. Analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Barclays upped their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Bank of America cut their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,495 shares of company stock valued at $7,181,458. 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.