Panagora Asset Management Inc. Lowers Position in Analog Devices, Inc. $ADI

Panagora Asset Management Inc. lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 89.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,077 shares of the semiconductor company’s stock after selling 58,922 shares during the period. Panagora Asset Management Inc.’s holdings in Analog Devices were worth $1,684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management boosted its holdings in shares of Analog Devices by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 127 shares during the last quarter. RMG Wealth Management LLC bought a new stake in Analog Devices in the second quarter worth about $26,000. Saudi Central Bank purchased a new position in Analog Devices in the first quarter valued at about $39,000. Nova Wealth Management Inc. bought a new position in shares of Analog Devices during the 1st quarter valued at approximately $42,000. Finally, Access Investment Management LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $45,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ADI shares. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 21st. Zacks Research lowered shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wells Fargo & Company boosted their price target on shares of Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Stifel Nicolaus set a $280.00 price objective on shares of Analog Devices in a report on Friday, November 21st. Finally, Weiss Ratings upgraded shares of Analog Devices from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $281.87.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the sale, the director directly owned 5,118 shares of the company’s stock, valued at $1,242,343.32. This represents a 16.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the transaction, the director directly owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This represents a 2.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,250 shares of company stock worth $6,520,371. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

NASDAQ ADI opened at $277.26 on Friday. The company has a 50-day simple moving average of $241.74 and a two-hundred day simple moving average of $237.51. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $279.55. The firm has a market cap of $135.76 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 1.55 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 earnings per share. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s dividend payout ratio is presently 86.84%.

Analog Devices 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.