CIBC Asset Management Inc Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

CIBC Asset Management Inc raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,698 shares of the semiconductor company’s stock after purchasing an additional 8,239 shares during the period. CIBC Asset Management Inc’s holdings in Analog Devices were worth $41,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the company. HBK Sorce Advisory LLC increased its position in shares of Analog Devices by 3.2% during the first quarter. HBK Sorce Advisory LLC now owns 4,194 shares of the semiconductor company’s stock worth $829,000 after acquiring an additional 131 shares during the period. Nwam LLC increased its holdings in shares of Analog Devices by 37.9% during the first quarter. Nwam LLC now owns 1,448 shares of the semiconductor company’s stock valued at $292,000 after acquiring an additional 398 shares in the last quarter. Banco Santander S.A. purchased a new position in shares of Analog Devices in the 1st quarter valued at approximately $435,000. M&G Plc acquired a new stake in Analog Devices in the 1st quarter worth approximately $181,232,000. Finally, First Foundation Advisors increased its stake in Analog Devices by 5.8% during the 1st quarter. First Foundation Advisors now owns 16,009 shares of the semiconductor company’s stock valued at $3,166,000 after purchasing an additional 883 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock worth $25,229,958 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Price Performance

NASDAQ:ADI opened at $212.24 on Friday. Analog Devices, Inc. has a one year low of $178.66 and a one year high of $244.14. The stock has a market cap of $105.38 billion, a PE ratio of 63.74, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a 50 day moving average price of $226.16 and a 200 day moving average price of $225.02.

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

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.73%. Analog Devices’s dividend payout ratio (DPR) is 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.