Eagle Asset Management Inc. Cuts Stake in Analog Devices, Inc. (ADI)

Eagle Asset Management Inc. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,691 shares of the semiconductor company’s stock after selling 117 shares during the quarter. Eagle Asset Management Inc.’s holdings in Analog Devices were worth $1,998,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of Analog Devices during the 1st quarter worth $100,000. Jacobus Wealth Management Inc. acquired a new position in shares of Analog Devices during the 1st quarter worth $113,000. Heritage Trust Co acquired a new position in shares of Analog Devices during the 1st quarter worth $114,000. Guardian Life Insurance Co. of America raised its stake in shares of Analog Devices by 18.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Analog Devices by 51.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after buying an additional 475 shares during the last quarter. 86.72% of the stock is owned by institutional investors and hedge funds.

In related news, Director Bruce R. Evans acquired 14,000 shares of the stock in a transaction dated Friday, July 7th. The shares were acquired at an average price of $78.28 per share, with a total value of $1,095,920.00. Following the acquisition, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Champy sold 10,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the transaction, the director now directly owns 20,185 shares in the company, valued at approximately $1,715,725. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,686 shares of company stock worth $3,780,282. 1.10% of the stock is currently owned by insiders.

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Analog Devices, Inc. (NASDAQ:ADI) opened at 80.44 on Monday. The company’s 50-day moving average price is $79.63 and its 200 day moving average price is $80.15. Analog Devices, Inc. has a 52-week low of $59.01 and a 52-week high of $90.49. The firm has a market capitalization of $29.52 billion, a price-to-earnings ratio of 30.81 and a beta of 1.29.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm posted $0.82 EPS. The business’s revenue was up 64.9% compared to the same quarter last year. Equities research analysts predict that Analog Devices, Inc. will post $4.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Thursday, September 7th. Analog Devices’s dividend payout ratio is 86.12%.

A number of research firms recently commented on ADI. UBS AG reiterated a “neutral” rating and set a $94.00 price objective (up previously from $83.00) on shares of Analog Devices in a research report on Saturday, June 3rd. B. Riley reiterated a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research report on Tuesday, June 27th. Royal Bank Of Canada reiterated a “buy” rating and set a $92.00 price objective on shares of Analog Devices in a research report on Friday, August 4th. Finally, BidaskClub cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Saturday. Twelve 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of $91.85.

Analog Devices Company 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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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