CIBC Asset Management Inc Purchases 3,529 Shares of Analog Devices, Inc. (NASDAQ:ADI)

CIBC Asset Management Inc boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 183,227 shares of the semiconductor company’s stock after purchasing an additional 3,529 shares during the period. CIBC Asset Management Inc’s holdings in Analog Devices were worth $38,928,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADI. Charles Schwab Investment Management Inc. boosted its stake in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after purchasing an additional 39,186 shares during the period. Swiss National Bank lifted its stake in Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after purchasing an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp bought a new stake in Analog Devices during the 4th quarter valued at $460,000. Finally, Summit Global Investments bought a new stake in shares of Analog Devices in the third quarter worth about $867,000. 86.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADI. TD Cowen decreased their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Benchmark began coverage on shares of Analog Devices in a research report on Friday. They set a “buy” rating and a $245.00 price objective on the stock. 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 note on Friday, January 10th. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $248.52.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices Trading Up 2.5 %

ADI opened at $214.61 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The stock has a market capitalization of $106.47 billion, a price-to-earnings ratio of 65.23, a PEG ratio of 2.38 and a beta of 1.04. The business has a fifty day moving average price of $214.04 and a 200 day moving average price of $219.59. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 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.