Canoe Financial LP Sells 289,577 Shares of Analog Devices, Inc. $ADI

Key Points

• Canoe Financial LP cut its Analog Devices stake by 45.3% in the first quarter, selling 289,577 shares and leaving it with 349,485 shares valued at about $111.2 million.
• Insider selling continued at ADI, with Director Ray Stata and SVP Martin Cotter both selling shares in June; insiders sold 101,442 shares worth about $40.4 million in the last quarter.
• Analysts remain constructive on Analog Devices, with multiple firms lifting price targets and the stock carrying a consensus “Moderate Buy” rating with an average target of $434.43.

Canoe Financial LP lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 45.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 349,485 shares of the semiconductor company's stock after selling 289,577 shares during the quarter. Analog Devices makes up about 1.5% of Canoe Financial LP's investment portfolio, making the stock its 28th largest position. Canoe Financial LP owned about 0.07% of Analog Devices worth $111,185,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Banque Transatlantique SA bought a new stake in Analog Devices in the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC bought a new position in shares of Analog Devices during the 4th quarter valued at about $26,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Analog Devices during the 4th quarter valued at about $27,000. Entrust Financial LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at about $33,000. Finally, Albion Financial Group UT grew its position in shares of Analog Devices by 41.4% during the fourth quarter. Albion Financial Group UT now owns 123 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 36 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ray Stata sold 1,432 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $400.83, for a total value of $573,988.56. Following the completion of the sale, the director directly owned 120,175 shares in the company, valued at $48,169,745.25. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Martin Cotter sold 17,594 shares of Analog Devices stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $418.00, for a total transaction of $7,354,292.00. Following the transaction, the senior vice president directly owned 56,332 shares of the company's stock, valued at $23,546,776. The trade was a 23.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 101,442 shares of company stock worth $40,422,954. 0.36% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on ADI shares. Argus set a $460.00 target price on Analog Devices in a research report on Tuesday, May 26th. Bank of America raised their price target on Analog Devices from $425.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Cantor Fitzgerald lifted their price objective on Analog Devices from $400.00 to $510.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Barclays upped their price objective on Analog Devices from $430.00 to $450.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Finally, Jefferies Financial Group increased their target price on Analog Devices from $410.00 to $475.00 and gave the company a "buy" rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $434.43.

Analog Devices Stock Up 0.1%

Shares of NASDAQ ADI opened at $387.14 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. Analog Devices, Inc. has a 12-month low of $218.37 and a 12-month high of $445.91. The firm's 50-day moving average price is $408.01 and its 200-day moving average price is $345.99. The stock has a market capitalization of $188.57 billion, a price-to-earnings ratio of 57.52, a P/E/G ratio of 1.08 and a beta of 1.18.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.89 by $0.20. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the business posted $1.85 earnings per share. The firm's revenue was up 37.2% on a year-over-year basis. Analog Devices has set its Q3 2026 guidance at 3.150-3.450 EPS. On average, equities research analysts anticipate that Analog Devices, Inc. will post 12.41 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were issued a $1.10 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. Analog Devices's payout ratio is 65.38%.

Analog Devices Company Profile

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.

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