Sunbelt Securities Inc. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,597 shares of the semiconductor company’s stock after selling 42 shares during the period. Sunbelt Securities Inc.’s holdings in Analog Devices were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in shares of Analog Devices during the first quarter valued at approximately $100,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Analog Devices by 51.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 475 shares during the last quarter. Guardian Life Insurance Co. of America raised its holdings in shares of Analog Devices by 18.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 223 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Analog Devices during the second quarter valued at approximately $119,000. Finally, Rockefeller Financial Services Inc. raised its holdings in shares of Analog Devices by 7,478.3% during the second quarter. Rockefeller Financial Services Inc. now owns 1,743 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 1,720 shares during the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.
Analog Devices, Inc. (ADI) traded up 0.4140% during midday trading on Thursday, reaching $88.9367. 892,856 shares of the company were exchanged. The firm’s 50 day moving average price is $83.84 and its 200-day moving average price is $80.54. Analog Devices, Inc. has a 52 week low of $59.54 and a 52 week high of $90.49. The stock has a market capitalization of $32.70 billion, a P/E ratio of 44.2691 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The firm’s quarterly revenue was up 64.9% on a year-over-year basis. Equities analysts forecast that Analog Devices, Inc. will post $4.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. Analog Devices’s payout ratio is 86.12%.
In other news, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $80.35, for a total transaction of $241,050.00. Following the transaction, the senior vice president now owns 20,404 shares of the company’s stock, valued at approximately $1,639,461.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Peter Real sold 4,505 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $82.13, for a total transaction of $369,995.65. Following the transaction, the senior vice president now directly owns 13,531 shares in the company, valued at approximately $1,111,301.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,494 shares of company stock worth $10,677,931. Corporate insiders own 1.10% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday. BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, October 7th. Stifel Nicolaus reissued a “buy” rating and set a $97.00 price objective on shares of Analog Devices in a report on Monday, September 25th. ValuEngine cut shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $98.00 price objective on shares of Analog Devices in a report on Wednesday, September 20th. Eleven investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Analog Devices presently has an average rating of “Buy” and a consensus target price of $92.35.
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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