Northwest & Ethical Investments L.P. Has $11.79 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Northwest & Ethical Investments L.P. grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.2% in the third quarter, according to the company in its most recent 13F filing 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 period. Northwest & Ethical Investments L.P.’s holdings in Analog Devices were worth $11,791,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. lifted its position in shares of Analog Devices by 19.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 11,619 shares of the semiconductor company’s stock valued at $2,298,000 after acquiring an additional 1,893 shares during the period. Hancock Whitney Corp boosted its position in shares of Analog Devices by 7.8% during the 1st quarter. Hancock Whitney Corp now owns 1,257 shares of the semiconductor company’s stock worth $249,000 after purchasing an additional 91 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Analog Devices in the 1st quarter valued at about $40,000. Atria Investments Inc grew its stake in shares of Analog Devices by 0.4% in the 1st quarter. Atria Investments Inc now owns 36,143 shares of the semiconductor company’s stock valued at $7,149,000 after buying an additional 149 shares during the period. Finally, PGGM Investments bought a new stake in Analog Devices in the 1st quarter valued at about $166,000. 86.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Oppenheimer reissued an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $249.33.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,000 shares of company stock valued at $24,883,200. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Performance

ADI traded down $1.88 during trading on Thursday, hitting $217.17. 2,943,466 shares of the company traded hands, compared to its average volume of 3,243,709. Analog Devices, Inc. has a one year low of $179.63 and a one year high of $244.14. The stock’s fifty day moving average is $224.64 and its 200 day moving average is $225.86. 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 cap of $107.82 billion, a P/E ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08.

Analog Devices Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. Analog Devices’s payout ratio is currently 110.51%.

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.