CIBC Asset Management Inc Reduces Stake in Analog Devices, Inc. (ADI)

CIBC Asset Management Inc lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,674 shares of the semiconductor company’s stock after selling 1,341 shares during the quarter. CIBC Asset Management Inc’s holdings in Analog Devices were worth $4,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Analog Devices by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 16,692,851 shares of the semiconductor company’s stock worth $1,429,574,000 after buying an additional 213,714 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Analog Devices by 0.3% during the third quarter. Wells Fargo & Company MN now owns 8,742,697 shares of the semiconductor company’s stock worth $753,358,000 after buying an additional 25,092 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of 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. First Eagle Investment Management LLC lifted its holdings in shares of Analog Devices by 13.7% during the third quarter. First Eagle Investment Management LLC now owns 3,654,773 shares of the semiconductor company’s stock worth $314,932,000 after buying an additional 439,675 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Analog Devices by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 3,084,108 shares of the semiconductor company’s stock worth $265,757,000 after buying an additional 22,001 shares in the last quarter. 86.20% of the stock is owned by institutional investors.

Shares of Analog Devices, Inc. (NASDAQ:ADI) opened at $88.54 on Wednesday. The firm has a market capitalization of $31,826.36, a PE ratio of 18.25, a PEG ratio of 1.58 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.47. Analog Devices, Inc. has a twelve month low of $74.65 and a twelve month high of $98.38.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.09. The company had revenue of $1.54 billion for 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 business’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 earnings per share. research analysts anticipate that Analog Devices, Inc. will post 5.2 EPS for the current year.

A number of brokerages recently commented on ADI. Jefferies Group restated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Thursday, October 19th. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, October 10th. Oppenheimer restated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Friday, November 17th. Royal Bank of Canada restated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Thursday, January 4th. Finally, Stifel Nicolaus raised their price target on Analog Devices from $97.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $97.21.

In related news, SVP Yusuf Jamal sold 718 shares of Analog Devices stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $90.89, for a total value of $65,259.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Gregory N. Henderson sold 4,000 shares of Analog Devices stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $91.52, for a total value of $366,080.00. Following the completion of the transaction, the senior vice president now directly owns 1,163 shares in the company, valued at $106,437.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,061 shares of company stock worth $16,163,741. Company insiders own 0.70% of the company’s stock.

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About Analog Devices

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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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