CIBC World Markets Inc. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 59.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,064 shares of the semiconductor company’s stock after selling 10,569 shares during the period. CIBC World Markets Inc.’s holdings in Analog Devices were worth $653,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division bought a new position in shares of Analog Devices during the 3rd quarter valued at approximately $105,000. Fort L.P. bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $117,000. Integrated Investment Consultants LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $130,000. Atlas Capital Advisors LLC bought a new position in shares of Analog Devices during the 3rd quarter valued at approximately $146,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $200,000. 89.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of ADI stock opened at $89.53 on Friday. Analog Devices, Inc. has a twelve month low of $76.62 and a twelve month high of $103.59. The firm has a market capitalization of $33.48 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.33 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.50 and a quick ratio of 1.08.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.03. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the business earned $1.45 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Analog Devices, Inc. will post 5.5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Thursday, November 29th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 28th. Analog Devices’s dividend payout ratio is 32.32%.

Analog Devices announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

ADI has been the topic of several research analyst reports. SunTrust Banks reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Analog Devices in a research report on Thursday, August 30th. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a research report on Saturday, August 25th. Zacks Investment Research downgraded Analog Devices from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Raymond James upped their price objective on Analog Devices from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. Finally, B. Riley cut their price objective on Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $100.52.

In other Analog Devices news, SVP Margaret K. Seif sold 2,700 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $243,000.00. Following the completion of the sale, the senior vice president now directly owns 24,517 shares in the company, valued at approximately $2,206,530. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $92.81, for a total value of $928,100.00. Following the sale, the chief executive officer now owns 27,376 shares of the company’s stock, valued at $2,540,766.56. The disclosure for this sale can be found here. Insiders sold a total of 50,800 shares of company stock valued at $4,601,096 over the last quarter. Company insiders own 1.10% of the company’s stock.

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Analog Devices Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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

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