CIBC Asset Management Inc Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

CIBC Asset Management Inc lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC acquired a new position in Analog Devices during the second quarter worth $29,000. ORG Partners LLC boosted its position in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 0.3 %

NASDAQ:ADI opened at $212.24 on Friday. The firm has a market capitalization of $105.38 billion, a P/E ratio of 63.74, a P/E/G ratio of 2.98 and a beta of 1.08. The business has a 50 day simple moving average of $226.16 and a 200 day simple moving average of $225.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a 12-month low of $178.66 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 earnings per share. Equities research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The firm 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 was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.73%. Analog Devices’s payout ratio is 110.51%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Bank of America lowered their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Morgan Stanley upped 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. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.80.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. 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 accessible through this hyperlink. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,495 shares of company stock valued at $25,229,958. Company insiders own 0.31% of the company’s stock.

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.