Atlantic Trust Group LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,077 shares of the semiconductor company’s stock after selling 314 shares during the quarter. Atlantic Trust Group LLC’s holdings in Analog Devices were worth $2,574,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of the company. British Columbia Investment Management Corp lifted its position in Analog Devices by 34.2% in the 1st quarter. British Columbia Investment Management Corp now owns 208,526 shares of the semiconductor company’s stock worth $17,089,000 after buying an additional 53,139 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in Analog Devices in the 1st quarter worth approximately $63,309,000. Boston Family Office LLC increased its stake in Analog Devices by 37.9% in the 2nd quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after purchasing an additional 2,004 shares during the period. Norinchukin Bank The increased its stake in Analog Devices by 26.5% in the 1st quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock worth $1,938,000 after purchasing an additional 4,956 shares during the period. Finally, Swiss National Bank increased its stake in Analog Devices by 51.3% in the 1st quarter. Swiss National Bank now owns 1,291,248 shares of the semiconductor company’s stock worth $105,818,000 after purchasing an additional 437,580 shares during the period. Hedge funds and other institutional investors own 86.72% of the company’s stock.
Several equities research analysts recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Analog Devices in a report on Monday, May 22nd. Credit Suisse Group reiterated a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research report on Friday, May 26th. B. Riley reiterated a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research report on Tuesday, May 30th. Drexel Hamilton reiterated a “buy” rating and set a $105.00 price objective (up previously from $93.00) on shares of Analog Devices in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada upped their price target on Analog Devices from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, June 1st. Twelve analysts have rated the stock with a hold rating, seventeen have given 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 price target of $91.85.
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Analog Devices, Inc. (NASDAQ ADI) traded up 1.82% during mid-day trading on Friday, hitting $83.84. The stock had a trading volume of 2,923,791 shares. The firm has a 50-day moving average of $80.06 and a 200-day moving average of $80.17. Analog Devices, Inc. has a 52-week low of $59.54 and a 52-week high of $90.49. The stock has a market cap of $30.83 billion, a P/E ratio of 41.73 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The business’s quarterly revenue was up 64.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. On average, analysts forecast that Analog Devices, Inc. will post $4.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 7th. Analog Devices’s payout ratio is currently 86.12%.
In other news, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total value of $240,840.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,638,033.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the sale, the director now directly owns 234,481 shares of the company’s stock, valued at $19,579,163.50. The disclosure for this sale can be found here. Insiders sold a total of 70,686 shares of company stock valued at $5,867,782 in the last three months. Insiders own 1.10% of the company’s stock.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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