TD Asset Management Inc Sells 16,283 Shares of Analog Devices, Inc. (NASDAQ:ADI)

TD Asset Management Inc reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 5.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 302,552 shares of the semiconductor company’s stock after selling 16,283 shares during the period. TD Asset Management Inc’s holdings in Analog Devices were worth $58,940,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Analog Devices by 106,932.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 532,163,881 shares of the semiconductor company’s stock worth $103,670,846,000 after purchasing an additional 531,666,682 shares during the last quarter. Norges Bank purchased a new stake in shares of Analog Devices during the 4th quarter worth $1,040,194,000. FMR LLC boosted its position in Analog Devices by 72.8% during the first quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock valued at $2,692,080,000 after purchasing an additional 5,748,969 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Analog Devices by 360.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,144,344 shares of the semiconductor company’s stock valued at $288,077,000 after purchasing an additional 4,810,035 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in Analog Devices by 101,479.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock worth $674,482,000 after purchasing an additional 4,107,895 shares in the last quarter. 85.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $182.60, for a total value of $1,826,000.00. Following the transaction, the chief executive officer now directly owns 70,713 shares in the company, valued at $12,912,193.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.

Analog Devices Trading Up 4.1 %

NASDAQ ADI opened at $177.58 on Wednesday. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $200.10. The firm has a 50 day simple moving average of $171.51 and a 200-day simple moving average of $180.80. The firm has a market cap of $88.49 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 2.14 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.10 and a current ratio of 1.71.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.52 EPS. Equities research analysts anticipate that Analog Devices, Inc. will post 10.12 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, September 1st. Analog Devices’s dividend payout ratio is presently 46.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ADI shares. The Goldman Sachs Group reduced their price target on Analog Devices from $204.00 to $188.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. Piper Sandler downgraded shares of Analog Devices from an “overweight” rating to a “neutral” rating and set a $190.00 price objective for the company. in a research note on Thursday, August 24th. Stifel Nicolaus raised their target price on Analog Devices from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. Bank of America boosted their target price on shares of Analog Devices from $205.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, July 18th. Finally, StockNews.com initiated coverage on shares of Analog Devices in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $203.42.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.