Northwest & Ethical Investments L.P. Buys 6,751 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Northwest & Ethical Investments L.P. increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 15.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,227 shares of the semiconductor company’s stock after acquiring an additional 6,751 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Analog Devices were worth $11,791,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ADI. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter worth about $28,000. New Millennium Group LLC purchased a new stake in Analog Devices in the second quarter valued at approximately $29,000. Archer Investment Corp lifted its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC grew its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, CVA Family Office LLC increased its holdings in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. This trade represents a 27.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $24,883,200 over the last 90 days. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Finally, TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Trading Down 0.9 %

Shares of Analog Devices stock traded down $1.88 during midday trading on Thursday, reaching $217.17. 2,943,466 shares of the company’s stock traded hands, compared to its average volume of 3,243,709. The company has a market cap of $107.82 billion, a PE ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. The stock has a 50 day moving average of $224.64 and a 200-day moving average of $225.86. Analog Devices, Inc. has a 12 month low of $179.63 and a 12 month high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices’s payout ratio is 110.51%.

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.