Cibc World Markets Corp Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Cibc World Markets Corp boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,341 shares of the semiconductor company’s stock after acquiring an additional 11,150 shares during the period. Cibc World Markets Corp’s holdings in Analog Devices were worth $18,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices during the fourth quarter valued at about $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the fourth quarter valued at approximately $30,000. Financial Life Planners purchased a new position in Analog Devices during the 4th quarter valued at approximately $33,000. Kestra Investment Management LLC bought a new stake in Analog Devices in the 4th quarter worth approximately $41,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $46,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Analog Devices stock opened at $211.68 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market capitalization of $104.99 billion, a PE ratio of 67.41, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a 50 day moving average price of $217.96 and a 200-day moving average price of $220.40. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $1.73 EPS. Analog Devices’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.87%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices declared that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Benchmark upped their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. UBS Group lifted their price target on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a research report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Analog Devices Company Profile

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.