Canada Post Corp Registered Pension Plan Increases Stake in Analog Devices, Inc. $ADI

Canada Post Corp Registered Pension Plan lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,049 shares of the semiconductor company’s stock after purchasing an additional 1,880 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Analog Devices were worth $3,684,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Howard Hughes Medical Institute bought a new position in shares of Analog Devices during the second quarter valued at about $25,000. Clayton Financial Group LLC purchased a new stake in Analog Devices during the 3rd quarter valued at about $31,000. LFA Lugano Financial Advisors SA boosted its holdings in Analog Devices by 92.9% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 65 shares during the period. Valley Wealth Managers Inc. bought a new position in Analog Devices during the 3rd quarter worth approximately $38,000. Finally, Sound Income Strategies LLC increased its stake in Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares during the period. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $320.45 on Friday. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $327.75. The stock has a market capitalization of $156.58 billion, a P/E ratio of 70.27, a P/E/G ratio of 1.74 and a beta of 1.03. The company’s 50-day moving average is $290.44 and its 200 day moving average is $257.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share 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 business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the firm posted $1.67 EPS. The business’s revenue was up 25.9% on a year-over-year basis. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.2%. Analog Devices’s dividend payout ratio is 86.84%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ADI shares. Benchmark reissued a “buy” rating and set a $285.00 price objective on shares of Analog Devices in a research note on Wednesday, November 26th. Oppenheimer increased their price target on shares of Analog Devices from $265.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Truist Financial boosted their price objective on shares of Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Sanford C. Bernstein reiterated a “market perform” rating and set a $270.00 target price on shares of Analog Devices in a report on Wednesday, November 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 target price on shares of Analog Devices in a research note on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Insider Buying and Selling at Analog Devices

In other news, SVP Katsufumi Nakamura sold 500 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $301.46, for a total transaction of $150,730.00. Following the sale, the senior vice president owned 12,710 shares in the company, valued at approximately $3,831,556.60. The trade was a 3.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $306.92, for a total transaction of $3,069,200.00. Following the completion of the sale, the chief executive officer directly owned 155,688 shares in the company, valued at $47,783,760.96. This represents a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 53,544 shares of company stock valued at $15,320,417. Company insiders own 0.36% of the company’s stock.

About Analog Devices

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.