Intact Investment Management Inc. Decreases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Intact Investment Management Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,120 shares of the semiconductor company’s stock after selling 420 shares during the period. Intact Investment Management Inc.’s holdings in Analog Devices were worth $1,178,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in Analog Devices in the 2nd quarter worth approximately $29,000. ORG Partners LLC grew its position 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 purchasing an additional 135 shares during the period. CVA Family Office LLC grew its position in 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 purchasing an additional 45 shares during the period. Hobbs Group Advisors LLC bought a new stake in Analog Devices in the 2nd quarter worth approximately $37,000. Finally, New Covenant Trust Company N.A. bought a new stake in Analog Devices in the 1st quarter worth approximately $40,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.6 %

Shares of ADI stock opened at $224.19 on Tuesday. The stock has a market cap of $111.31 billion, a P/E ratio of 67.32, a PEG ratio of 3.70 and a beta of 1.08. Analog Devices, Inc. has a 52 week low of $165.59 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 company’s fifty day simple moving average is $227.16 and its two-hundred day simple moving average is $223.83.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.49 EPS. Analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 110.51%.

Analyst Ratings Changes

ADI has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Barclays lifted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.80.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,495 shares of company stock worth $22,991,258 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

About Analog Devices

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.