Canoe Financial LP Has $140.61 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Canoe Financial LP increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 54.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 605,935 shares of the semiconductor company's stock after buying an additional 212,432 shares during the quarter. Analog Devices comprises approximately 3.4% of Canoe Financial LP's portfolio, making the stock its 10th largest position. Canoe Financial LP owned about 0.12% of Analog Devices worth $140,607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Norden Group LLC raised its stake in Analog Devices by 1,534.0% during the 1st quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company's stock worth $5,355,000 after acquiring an additional 25,419 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Analog Devices by 24.9% during the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company's stock worth $6,268,000 after buying an additional 6,314 shares in the last quarter. BDF Gestion acquired a new stake in shares of Analog Devices during the second quarter worth $4,491,000. Envestnet Portfolio Solutions Inc. grew its holdings in Analog Devices by 3.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company's stock valued at $16,912,000 after buying an additional 2,280 shares during the period. Finally, Interval Partners LP purchased a new position in Analog Devices during the first quarter worth approximately $1,978,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ADI shares. Barclays increased their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America reduced 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. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Finally, Oppenheimer restated an "outperform" rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $249.80.

Analog Devices Stock Performance

Analog Devices stock traded down $0.03 during mid-day trading on Monday, hitting $230.14. 3,403,677 shares of the company's stock traded hands, compared to its average volume of 3,224,380. The stock has a market cap of $114.20 billion, a price-to-earnings ratio of 53.77, a P/E/G ratio of 3.87 and a beta of 1.07. The firm has a 50 day simple moving average of $226.93 and a two-hundred day simple moving average of $222.51. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. 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 (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company's revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.49 EPS. On average, research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's payout ratio is 85.98%.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company's stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock valued at $20,794,658 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

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.