Tredje AP fonden lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 36.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,940 shares of the semiconductor company’s stock after selling 15,581 shares during the quarter. Tredje AP fonden’s holdings in Analog Devices were worth $3,404,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. increased its position in Analog Devices by 1.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 6,930 shares of the semiconductor company’s stock worth $828,000 after purchasing an additional 97 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Analog Devices by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,413 shares of the semiconductor company’s stock valued at $643,000 after acquiring an additional 98 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Analog Devices by 2.8% during the first quarter. Checchi Capital Advisers LLC now owns 3,538 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 98 shares during the last quarter. FineMark National Bank & Trust increased its position in Analog Devices by 3.9% during the first quarter. FineMark National Bank & Trust now owns 2,704 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 101 shares during the last quarter. Finally, Hyman Charles D increased its position in Analog Devices by 4.8% during the fourth quarter. Hyman Charles D now owns 2,307 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 105 shares during the last quarter. 86.97% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Gregory N. Henderson sold 883 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $100.00, for a total transaction of $88,300.00. Following the transaction, the senior vice president now owns 5,826 shares in the company, valued at $582,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Evans acquired 2,631 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average price of $90.32 per share, for a total transaction of $237,631.92. Over the last three months, insiders have sold 12,574 shares of company stock valued at $1,387,634. Insiders own 0.42% of the company’s stock.
Shares of ADI stock traded up $0.05 during mid-day trading on Friday, hitting $111.06. 1,741,405 shares of the stock traded hands, compared to its average volume of 2,422,235. The stock has a market cap of $40.90 billion, a P/E ratio of 37.27, a P/E/G ratio of 2.07 and a beta of 1.37. The stock’s fifty day moving average is $102.33 and its two-hundred day moving average is $109.51. Analog Devices, Inc. has a 52-week low of $79.07 and a 52-week high of $127.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.30 and a quick ratio of 0.75.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. The company’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. As a group, equities analysts forecast that Analog Devices, Inc. will post 4.3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Friday, May 29th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, May 28th. Analog Devices’s payout ratio is 48.16%.
A number of research firms have weighed in on ADI. Royal Bank of Canada cut their price objective on shares of Analog Devices from $136.00 to $122.00 in a research report on Tuesday. Bank of America upped their price target on shares of Analog Devices from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein cut their price target on shares of Analog Devices from $115.00 to $90.00 and set a “market perform” rating on the stock in a report on Thursday, March 19th. Robert W. Baird cut their price target on shares of Analog Devices from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Oppenheimer restated a “buy” rating and issued a $140.00 price target on shares of Analog Devices in a report on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and a consensus target price of $121.70.
Analog Devices Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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