CIBC Private Wealth Group LLC Buys 1,044,995 Shares of Analog Devices, Inc. (ADI)

CIBC Private Wealth Group LLC lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3,063.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,079,103 shares of the semiconductor company’s stock after acquiring an additional 1,044,995 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Analog Devices were worth $92,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Financial Advisors Inc. raised its holdings in shares of Analog Devices by 9,766.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 296 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 293 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $35,000. Financial Gravity Companies Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $46,000. Tompkins Financial Corp increased its holdings in shares of Analog Devices by 74.8% in the fourth quarter. Tompkins Financial Corp now owns 549 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 235 shares during the last quarter. Finally, First Personal Financial Services increased its holdings in shares of Analog Devices by 83.3% in the fourth quarter. First Personal Financial Services now owns 759 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.

In related news, SVP Margaret K. Seif sold 2,700 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $93.34, for a total value of $252,018.00. Following the transaction, the senior vice president now owns 24,517 shares in the company, valued at approximately $2,288,416.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $93.34, for a total value of $933,400.00. Following the completion of the sale, the chief executive officer now directly owns 27,376 shares in the company, valued at approximately $2,555,275.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,803 shares of company stock worth $3,264,080. 0.50% of the stock is owned by insiders.

Several research firms have recently commented on ADI. Zacks Investment Research upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Barclays decreased their target price on Analog Devices from $105.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, October 23rd. Royal Bank of Canada lowered Analog Devices from an “outperform” rating to a “sector perform” rating and set a $81.00 target price for the company. in a report on Friday, January 4th. Bank of America lowered Analog Devices from a “buy” rating to a “neutral” rating in a report on Friday, January 4th. Finally, Goldman Sachs Group lowered Analog Devices from a “neutral” rating to a “sell” rating and decreased their target price for the company from $56.00 to $47.00 in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $99.55.

Analog Devices stock opened at $100.73 on Monday. Analog Devices, Inc. has a 1-year low of $76.62 and a 1-year high of $103.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.50. The firm has a market capitalization of $37.20 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $1.45 earnings per share. Analog Devices’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts anticipate that Analog Devices, Inc. will post 5.42 earnings per share for the current fiscal year.

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Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets integrated circuits (ICs), algorithms, software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company 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 and microwave ICs to support cellular infrastructure.

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

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