Synovus Financial Corp raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 226.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,707 shares of the semiconductor company’s stock after acquiring an additional 3,957 shares during the period. Synovus Financial Corp’s holdings in Analog Devices were worth $447,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in ADI. British Columbia Investment Management Corp lifted its holdings in Analog Devices by 34.2% during the first quarter. British Columbia Investment Management Corp now owns 208,526 shares of the semiconductor company’s stock worth $17,089,000 after acquiring an additional 53,139 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in Analog Devices during the first quarter worth $63,309,000. Summit Securities Group LLC bought a new stake in Analog Devices during the first quarter worth $1,572,000. Boston Family Office LLC lifted its holdings in Analog Devices by 37.9% during the second quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after acquiring an additional 2,004 shares during the period. Finally, Norinchukin Bank The lifted its holdings in Analog Devices by 26.5% during the first quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock worth $1,938,000 after acquiring an additional 4,956 shares during the period. 86.67% of the stock is currently owned by institutional investors.
In related news, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction on Monday, August 21st. The shares were sold at an average price of $77.81, for a total transaction of $233,430.00. Following the sale, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,587,635.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Evans purchased 14,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were bought at an average price of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the purchase, the director now directly owns 67,540 shares in the company, valued at $5,287,031.20. The disclosure for this purchase can be found here. Insiders have sold a total of 106,494 shares of company stock worth $8,920,681 over the last quarter. 1.10% of the stock is owned by company insiders.
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A number of brokerages recently commented on ADI. B. Riley reiterated a “buy” rating and set a $103.00 price target on shares of Analog Devices in a report on Tuesday, May 30th. UBS AG restated a “neutral” rating and issued a $94.00 target price (up from $83.00) on shares of Analog Devices in a research note on Saturday, June 3rd. ValuEngine lowered Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Royal Bank Of Canada boosted their target price on Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, August 31st. Thirteen equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Analog Devices has a consensus rating of “Buy” and an average price target of $91.92.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 84.92 on Friday. The company’s 50-day moving average price is $80.41 and its 200 day moving average price is $80.16. The stock has a market capitalization of $31.22 billion, a PE ratio of 42.27 and a beta of 1.29. Analog Devices, Inc. has a one year low of $59.54 and a one year high of $90.49.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $0.82 EPS. The company’s revenue was up 64.9% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post $4.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. Analog Devices’s payout ratio is 86.12%.
Analog Devices Profile
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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