Mackenzie Financial Corp Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Mackenzie Financial Corp raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 20.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 703,660 shares of the semiconductor company’s stock after acquiring an additional 119,952 shares during the quarter. Mackenzie Financial Corp owned approximately 0.14% of Analog Devices worth $160,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Maplelane Capital LLC purchased a new stake in Analog Devices during the second quarter valued at about $19,859,000. MBB Public Markets I LLC bought a new stake in shares of Analog Devices in the second quarter valued at approximately $8,247,000. Daymark Wealth Partners LLC lifted its stake in shares of Analog Devices by 4.0% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,262 shares of the semiconductor company’s stock valued at $5,766,000 after buying an additional 962 shares in the last quarter. Drucker Wealth 3.0 LLC bought a new position in Analog Devices in the 2nd quarter worth approximately $1,051,000. Finally, Dundas Partners LLP grew its stake in Analog Devices by 0.9% in the 2nd quarter. Dundas Partners LLP now owns 197,970 shares of the semiconductor company’s stock valued at $45,189,000 after buying an additional 1,809 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $232.46 on Friday. 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 stock has a market cap of $115.41 billion, a PE ratio of 54.31, a PEG ratio of 3.75 and a beta of 1.07. The company’s fifty day moving average is $223.06 and its 200 day moving average is $216.92. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14.

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

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.58%. Analog Devices’s payout ratio is currently 85.98%.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,495 shares of company stock valued at $13,904,458. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ADI. Morgan Stanley raised their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Barclays raised their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.