Cidel Asset Management Inc. Has $1.52 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Cidel Asset Management Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 90.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,145 shares of the semiconductor company’s stock after selling 70,895 shares during the quarter. Cidel Asset Management Inc.’s holdings in Analog Devices were worth $1,518,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Raymond James & Associates grew its holdings in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after acquiring an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after purchasing an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. Piper Sandler dropped their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays lowered their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Morgan Stanley lowered their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

ADI stock opened at $205.21 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The stock has a market capitalization of $101.81 billion, a PE ratio of 62.37, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. The company’s 50-day moving average is $215.46 and its 200-day moving average is $220.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 earnings per share. Equities research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

About Analog Devices

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.