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

CIBC Asset Management Inc grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,698 shares of the semiconductor company's stock after purchasing an additional 8,239 shares during the quarter. CIBC Asset Management Inc's holdings in Analog Devices were worth $41,361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADI. Capital Performance Advisors LLP bought a new position in Analog Devices during the third quarter worth $28,000. New Millennium Group LLC purchased a new position in Analog Devices during the 2nd quarter worth $29,000. ORG Partners LLC grew its stake 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 acquiring an additional 135 shares in the last quarter. CVA Family Office LLC raised 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 during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Analog Devices during the second quarter valued at about $37,000. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a "neutral" rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Oppenheimer restated an "outperform" rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America decreased their price target on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Truist Financial lowered Analog Devices from a "buy" rating to a "hold" rating and reduced their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Analog Devices from $260.00 to $280.00 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 assigned a buy rating to the stock. According to MarketBeat, Analog Devices currently has a consensus rating of "Moderate Buy" and an average target price of $249.80.

Analog Devices Trading Down 2.9 %

Shares of NASDAQ ADI traded down $6.12 during midday trading on Friday, hitting $206.12. 1,884,723 shares of the company traded hands, compared to its average volume of 3,209,292. The stock has a 50-day moving average price of $226.02 and a 200 day moving average price of $224.94. 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 firm has a market cap of $102.34 billion, a P/E ratio of 63.09, a P/E/G ratio of 2.98 and a beta of 1.08. Analog Devices, Inc. has a 12-month low of $178.66 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm 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 period in the previous year, the firm posted $2.49 EPS. As a group, analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is presently 110.51%.

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.