CIBC Asset Management Inc lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,674 shares of the semiconductor company’s stock after selling 1,341 shares during the period. CIBC Asset Management Inc’s holdings in Analog Devices were worth $4,244,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its stake in Analog Devices by 97.4% during the third quarter. Neuberger Berman Group LLC now owns 4,303,569 shares of the semiconductor company’s stock worth $370,839,000 after buying an additional 2,123,268 shares in the last quarter. Boston Partners acquired a new position in Analog Devices during the 4th quarter worth approximately $67,877,000. Alkeon Capital Management LLC boosted its position in Analog Devices by 25.1% during the 3rd quarter. Alkeon Capital Management LLC now owns 2,526,537 shares of the semiconductor company’s stock worth $217,712,000 after acquiring an additional 507,000 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Analog Devices by 13.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 3,654,773 shares of the semiconductor company’s stock worth $314,932,000 after purchasing an additional 439,675 shares in the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt raised its stake in shares of Analog Devices by 55.6% during the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,119,510 shares of the semiconductor company’s stock worth $96,468,000 after purchasing an additional 400,000 shares in the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
Analog Devices, Inc. (NASDAQ:ADI) traded down $0.71 during trading on Wednesday, reaching $84.34. The company had a trading volume of 2,688,900 shares, compared to its average volume of 3,400,567. Analog Devices, Inc. has a twelve month low of $74.65 and a twelve month high of $98.38. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.47. The stock has a market capitalization of $31,090.00, a PE ratio of 42.63, a price-to-earnings-growth ratio of 1.57 and a beta of 1.27.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.09. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The company’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. equities research analysts predict that Analog Devices, Inc. will post 5.2 EPS for the current year.
ADI has been the topic of a number of analyst reports. Jefferies Group reiterated a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research note on Thursday, October 19th. BidaskClub cut Analog Devices from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Stifel Nicolaus upped their price objective on Analog Devices from $97.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, November 16th. B. Riley reissued a “buy” rating and set a $113.00 target price (up from $110.00) on shares of Analog Devices in a report on Thursday, November 16th. Finally, Oppenheimer reissued a “buy” rating and set a $100.00 target price on shares of Analog Devices in a report on Friday, November 17th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $97.21.
In related news, CEO Vincent Roche sold 100,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $85.17, for a total value of $8,517,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jean Philibert sold 5,098 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $90.24, for a total value of $460,043.52. Following the completion of the transaction, the senior vice president now directly owns 5,098 shares in the company, valued at $460,043.52. The disclosure for this sale can be found here. Insiders have sold a total of 186,061 shares of company stock valued at $16,163,741 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
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Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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