Ontario Teachers Pension Plan Board Invests $469,000 in Analog Devices, Inc. (NASDAQ:ADI)

Ontario Teachers Pension Plan Board acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,370 shares of the semiconductor company’s stock, valued at approximately $469,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ADI. TIAA Trust National Association lifted its position in Analog Devices by 1.7% during the first quarter. TIAA Trust National Association now owns 21,866 shares of the semiconductor company’s stock valued at $4,325,000 after purchasing an additional 360 shares during the period. Vanguard Group Inc. grew its stake in Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Alera Investment Advisors LLC lifted its position in Analog Devices by 17.0% during the first quarter. Alera Investment Advisors LLC now owns 2,433 shares of the semiconductor company’s stock valued at $481,000 after purchasing an additional 354 shares during the last quarter. Spirepoint Private Client LLC bought a new position in Analog Devices during the first quarter valued at $575,000. Finally, Nicolet Advisory Services LLC lifted its position in Analog Devices by 8.7% during the first quarter. Nicolet Advisory Services LLC now owns 3,975 shares of the semiconductor company’s stock valued at $811,000 after purchasing an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 3.8 %

Shares of Analog Devices stock traded up $8.82 on Monday, reaching $240.04. The stock had a trading volume of 2,819,085 shares, compared to its average volume of 3,264,437. The company has a 50 day moving average price of $230.45 and a 200 day moving average price of $206.60. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock has a market capitalization of $119.11 billion, a P/E ratio of 55.28, a P/E/G ratio of 3.90 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael Sondel sold 4,830 shares of Analog Devices stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the sale, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The disclosure for this sale can be found here. Insiders sold 46,642 shares of company stock worth $10,481,343 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Citigroup raised their target price on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Robert W. Baird raised their target price on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Morgan Stanley lifted their price objective on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, UBS Group lifted their price objective on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $245.50.

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.