Canoe Financial LP Has $127.33 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Canoe Financial LP reduced its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 599,291 shares of the semiconductor company's stock after selling 6,644 shares during the period. Analog Devices comprises approximately 1.8% of Canoe Financial LP's holdings, making the stock its 18th largest position. Canoe Financial LP owned approximately 0.12% of Analog Devices worth $127,325,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp increased its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Analog Devices during the third quarter worth $43,000. Reston Wealth Management LLC bought a new position in Analog Devices during the third quarter valued at about $48,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Analog Devices in the third quarter worth about $80,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ADI. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley decreased their price objective on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. TD Cowen dropped their target price 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. Finally, Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $248.70.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $4.14 during trading on Friday, reaching $219.16. The stock had a trading volume of 2,871,098 shares, compared to its average volume of 2,463,744. The stock has a market capitalization of $108.77 billion, a PE ratio of 66.61, a P/E/G ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The business's 50-day moving average price is $215.64 and its 200 day moving average price is $222.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business's revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.01 earnings per share. As a group, equities analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. Analog Devices's payout ratio is presently 111.85%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred 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 directly owns 21,983 shares of the company's stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company's stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,000 shares of company stock valued at $11,029,300. Company insiders own 0.31% of the company's stock.

Analog Devices 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.