Northern Trust Corp decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,859,631 shares of the semiconductor company’s stock after selling 481,182 shares during the period. Northern Trust Corp owned approximately 1.17% of Analog Devices worth $1,141,515,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Concord Wealth Partners grew its holdings in shares of Analog Devices by 107.9% in the second quarter. Concord Wealth Partners now owns 131 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 68 shares during the period. Silicon Valley Capital Partners acquired a new position in Analog Devices in the 1st quarter valued at about $27,000. Magellan Asset Management Ltd acquired a new stake in shares of Analog Devices during the 1st quarter worth approximately $30,000. Duncker Streett & Co. Inc. raised its position in shares of Analog Devices by 66.3% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 153 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 61 shares during the period. Finally, Archer Investment Corp purchased a new position in Analog Devices in the second quarter worth approximately $30,000. 85.55% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently issued reports on ADI shares. Oppenheimer restated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a report on Thursday, August 24th. Morgan Stanley upgraded shares of Analog Devices from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $176.00 to $225.00 in a report on Friday. StockNews.com initiated coverage on Analog Devices in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Wells Fargo & Company dropped their price objective on Analog Devices from $185.00 to $175.00 and set an “equal weight” rating for the company in a research note on Thursday, August 24th. Finally, The Goldman Sachs Group decreased their target price on Analog Devices from $204.00 to $188.00 and set a “buy” rating on the stock in a research note on Wednesday, August 23rd. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $205.46.
Insider Transactions at Analog Devices
In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $182.60, for a total value of $1,826,000.00. Following the completion of the sale, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at approximately $12,912,193.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.
Analog Devices Stock Performance
ADI stock traded down $3.49 during trading on Tuesday, hitting $180.33. The company had a trading volume of 331,976 shares, compared to its average volume of 3,370,829. The firm has a 50-day moving average price of $171.74 and a 200-day moving average price of $180.78. The company has a quick ratio of 1.10, a current ratio of 1.71 and a debt-to-equity ratio of 0.18. The firm has a market cap of $89.86 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.25 and a beta of 1.16. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $200.10.
Analog Devices (NASDAQ:ADI – Get Free Report) last released its earnings results on Tuesday, November 21st. The semiconductor company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.01). Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the firm posted $2.73 EPS. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. On average, analysts expect that Analog Devices, Inc. will post 10.08 earnings per share for the current year.
Analog Devices Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, September 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, September 1st. Analog Devices’s payout ratio is 46.74%.
Analog Devices Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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