Canoe Financial LP Has $132.40 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Canoe Financial LP increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 656,496 shares of the semiconductor company's stock after acquiring an additional 57,205 shares during the period. Analog Devices comprises about 2.1% of Canoe Financial LP's investment portfolio, making the stock its 20th biggest position. Canoe Financial LP owned 0.13% of Analog Devices worth $132,396,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Orion Capital Management LLC bought a new stake in Analog Devices in the fourth quarter valued at $27,000. Menard Financial Group LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at $30,000. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices in the 4th quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC increased its position in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,934 shares of company stock worth $5,807,196. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ADI. Stifel Nicolaus boosted their price target on shares of Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Cowen reiterated a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. Citigroup boosted their target price on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Cantor Fitzgerald upgraded Analog Devices from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $250.00 to $270.00 in a research report on Wednesday. Finally, Benchmark reaffirmed a "buy" rating and set a $260.00 price target (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Trading Down 0.6%

Shares of ADI traded down $1.30 on Friday, reaching $228.35. 5,316,062 shares of the company's stock were exchanged, compared to its average volume of 3,565,501. The business has a 50 day moving average price of $209.55 and a two-hundred day moving average price of $211.09. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The stock has a market capitalization of $113.32 billion, a P/E ratio of 62.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $1.40 EPS. The business's quarterly revenue was up 22.3% compared to the same quarter last year. Research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Analog Devices Company Profile

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.