Cidel Asset Management Inc. Has $1.52 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Cidel Asset Management Inc. lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 90.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,145 shares of the semiconductor company’s stock after selling 70,895 shares during the quarter. Cidel Asset Management Inc.’s holdings in Analog Devices were worth $1,518,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Atomi Financial Group Inc. lifted its stake in Analog Devices by 14.1% in the third quarter. Atomi Financial Group Inc. now owns 2,184 shares of the semiconductor company’s stock valued at $503,000 after buying an additional 270 shares in the last quarter. Wedmont Private Capital lifted its position in Analog Devices by 6.6% in the 3rd quarter. Wedmont Private Capital now owns 4,323 shares of the semiconductor company’s stock valued at $979,000 after acquiring an additional 269 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its stake in Analog Devices by 8.2% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 2,423 shares of the semiconductor company’s stock worth $558,000 after purchasing an additional 183 shares during the period. UMB Bank n.a. increased its holdings in Analog Devices by 1.1% during the 3rd quarter. UMB Bank n.a. now owns 11,216 shares of the semiconductor company’s stock worth $2,582,000 after purchasing an additional 122 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its holdings in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADI. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Truist Financial raised their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Performance

ADI opened at $205.21 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The business has a 50 day moving average of $215.46 and a 200-day moving average of $220.59. The stock has a market cap of $101.81 billion, a price-to-earnings ratio of 62.37, a PEG ratio of 2.43 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business earned $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

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.