Analog Devices, Inc. $ADI Shares Sold by Canoe Financial LP

Canoe Financial LP lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 644,365 shares of the semiconductor company’s stock after selling 171,217 shares during the quarter. Analog Devices accounts for about 2.3% of Canoe Financial LP’s holdings, making the stock its 15th biggest position. Canoe Financial LP’s holdings in Analog Devices were worth $158,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute acquired a new stake in shares of Analog Devices in the second quarter valued at approximately $25,000. Activest Wealth Management raised its position in Analog Devices by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in Analog Devices during the 2nd quarter worth $26,000. Clayton Financial Group LLC purchased a new position in Analog Devices during the 3rd quarter worth $31,000. Finally, Saudi Central Bank purchased a new position in Analog Devices during the 1st quarter worth $39,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.5%

ADI opened at $277.98 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $284.23. The stock has a market capitalization of $136.11 billion, a P/E ratio of 60.96, a P/E/G ratio of 1.53 and a beta of 1.04. The business has a 50 day simple moving average of $253.35 and a 200-day simple moving average of $243.84.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ADI. Morgan Stanley upped their target price on shares of Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Wells Fargo & Company upped their price objective on Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Zacks Research downgraded Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. BNP Paribas started coverage on Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target for the company. Finally, Cfra reaffirmed a “buy” rating and set a $280.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.22.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $279.39, for a total transaction of $873,093.75. Following the sale, the director owned 136,321 shares of the company’s stock, valued at approximately $38,086,724.19. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Martin Cotter sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $271.19, for a total transaction of $1,355,950.00. Following the transaction, the senior vice president owned 59,664 shares in the company, valued at $16,180,280.16. The trade was a 7.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 40,419 shares of company stock valued at $10,249,017. 0.33% of the stock is owned by company insiders.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.