iA Global Asset Management Inc. Sells 34,298 Shares of Analog Devices, Inc. $ADI

iA Global Asset Management Inc. trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 37.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,967 shares of the semiconductor company’s stock after selling 34,298 shares during the quarter. iA Global Asset Management Inc.’s holdings in Analog Devices were worth $13,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute purchased a new position in shares of Analog Devices in the 2nd quarter worth $25,000. RMG Wealth Management LLC purchased a new position in Analog Devices in the second quarter worth about $26,000. Clayton Financial Group LLC bought a new stake in Analog Devices during the third quarter worth approximately $31,000. Sound Income Strategies LLC raised its position in Analog Devices by 141.8% during the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 95 shares during the period. Finally, Access Investment Management LLC bought a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $45,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 1.2%

ADI stock opened at $308.52 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $313.19. The stock has a market capitalization of $151.07 billion, a PE ratio of 67.66, a price-to-earnings-growth ratio of 1.65 and a beta of 1.03. The firm has a 50 day moving average of $274.55 and a 200 day moving average of $251.60.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company set a $340.00 price target on Analog Devices and gave the company an “overweight” rating in a report on Thursday, January 15th. Bank of America increased their target price on shares of Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna raised their target price on shares of Analog Devices from $350.00 to $360.00 and gave the stock a “positive” rating in a report on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $314.00 price target on shares of Analog Devices in a report on Friday, January 16th. Finally, Zacks Research raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Insiders Place Their Bets

In related news, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the completion of the transaction, the senior vice president owned 49,664 shares of the company’s stock, valued at $13,828,444.16. This trade represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the transaction, the chief executive officer owned 155,688 shares of the company’s stock, valued at $42,825,098.16. This represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 53,544 shares of company stock worth $14,328,561. Company insiders own 0.33% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.