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

Key Points

• Canoe Financial LP cut its Analog Devices stake by 19.3% in the third quarter, selling 68,089 shares and retaining 285,099 shares valued at approximately $115.4 million. Institutional investors collectively own 86.81% of ADI.
• Analog Devices reported quarterly EPS of $3.45 and revenue of $4.02 billion, exceeding analyst estimates, while revenue increased 39.2% year over year. The company also pays a quarterly dividend of $1.10 per share, representing a 1.1% yield.
• Wall Street remains broadly positive on ADI, with a “Moderate Buy” consensus rating and an average price target of $460.55 versus a recent share price of $405.96. Recent insider sales included transactions by CFO Richard Puccio and insider Vivek Jain.

Canoe Financial LP reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 19.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,099 shares of the semiconductor company's stock after selling 68,089 shares during the quarter. Canoe Financial LP owned 0.06% of Analog Devices worth $115,351,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Analog Devices in the second quarter valued at approximately $18,610,868,000. Bank of America Corp DE raised its stake in shares of Analog Devices by 5.2% during the first quarter. Bank of America Corp DE now owns 10,216,699 shares of the semiconductor company's stock valued at $3,250,341,000 after purchasing an additional 501,604 shares during the period. Van ECK Associates Corp lifted its position in shares of Analog Devices by 24.7% during the second quarter. Van ECK Associates Corp now owns 8,422,883 shares of the semiconductor company's stock worth $3,345,316,000 after purchasing an additional 1,670,957 shares in the last quarter. Amundi boosted its stake in shares of Analog Devices by 5.3% in the first quarter. Amundi now owns 5,044,271 shares of the semiconductor company's stock valued at $1,604,771,000 after purchasing an additional 254,632 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Analog Devices in the second quarter valued at $1,525,167,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Up 2.2%

NASDAQ:ADI opened at $405.96 on Thursday. The company has a market capitalization of $196.72 billion, a price-to-earnings ratio of 48.16, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22. Analog Devices, Inc. has a one year low of $223.47 and a one year high of $445.91. The stock has a 50-day simple moving average of $383.63 and a 200 day simple moving average of $388.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.91 and a current ratio of 1.25.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.11. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.92 billion. Analog Devices had a return on equity of 16.39% and a net margin of 29.79%. Analog Devices's revenue for the quarter was up 39.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 13.00 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $1.10 per share. The ex-dividend date was Tuesday, September 1st. This represents a $4.40 annualized dividend and a yield of 1.1%. Analog Devices's payout ratio is presently 52.19%.

Analog Devices News Roundup

Here are the key news stories impacting Analog Devices this week:

• Positive Sentiment: TD Cowen raised its price target for Analog Devices (ADI) from $460 to $475 and reiterated a “buy” rating, signaling continued confidence in the company’s earnings outlook and potential upside. Benzinga analyst price target report
• Positive Sentiment: Analog Devices disclosed that Tutanota LLC is seeking to purchase up to 100,000 ADI shares for $525 each in an unsolicited mini-tender offer. Although ADI recommended that shareholders reject the offer, the premium price drew investor attention and may reinforce perceptions that the stock is valuable. Analog Devices mini-tender offer announcement
• Neutral Sentiment: Exchange-traded funds were reported to be buying Analog Devices shares on October 19, suggesting continued institutional demand, though the report did not identify the size or strategic significance of the purchases. ETF purchases of Analog Devices
• Negative Sentiment: Chief Financial Officer Richard Puccio sold 1,500 shares valued at approximately $584,000. The transaction reduced his direct holdings by 3.02%, but it was executed under a pre-arranged Rule 10b5-1 plan, making it a relatively limited signal about management’s view of ADI’s prospects. Richard Puccio insider transaction

Insider Activity

In other news, CFO Richard C. Puccio, Jr. sold 1,500 shares of the firm's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $389.46, for a total value of $584,190.00. Following the transaction, the chief financial officer directly owned 48,177 shares in the company, valued at approximately $18,763,014.42. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vivek Jain sold 3,305 shares of the business's stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $406.58, for a total transaction of $1,343,746.90. Following the sale, the insider directly owned 40,428 shares of the company's stock, valued at approximately $16,437,216.24. This represents a 7.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 52,436 shares of company stock valued at $20,014,954 over the last quarter. 0.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADI shares. Piper Sandler set a $460.00 price target on shares of Analog Devices in a research note on Tuesday, September 8th. BMO Capital Markets assumed coverage on Analog Devices in a research note on Thursday, August 20th. They set an "outperform" rating and a $430.00 target price for the company. Needham & Company LLC lifted their target price on Analog Devices from $440.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Stifel Nicolaus lifted their target price on Analog Devices from $450.00 to $498.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Finally, Arete Research boosted their price target on Analog Devices from $487.00 to $490.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and an average target price of $460.55.

Analog Devices Profile

Analog Devices, Inc NASDAQ: ADI is a global semiconductor company that designs and manufactures analog, mixed-signal and digital signal-processing technologies. Its products convert, condition and process real-world signals such as temperature, pressure, sound, motion, light and electrical power, helping electronic systems interpret and respond to physical environments.

The company offers a broad portfolio of integrated circuits, power-management products, amplifiers, data converters, sensors, radio-frequency and microwave components, connectivity solutions and embedded processors.

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