Summit Trail Advisors LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 401.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,455 shares of the semiconductor company’s stock after purchasing an additional 8,369 shares during the period. Summit Trail Advisors LLC’s holdings in Analog Devices were worth $147,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ADI. OppenheimerFunds Inc. lifted its holdings in shares of Analog Devices by 29.9% during the 4th quarter. OppenheimerFunds Inc. now owns 9,068 shares of the semiconductor company’s stock worth $807,000 after acquiring an additional 2,089 shares during the period. Standard Life Aberdeen plc lifted its holdings in shares of Analog Devices by 2.7% during the 4th quarter. Standard Life Aberdeen plc now owns 84,152 shares of the semiconductor company’s stock worth $7,495,000 after acquiring an additional 2,245 shares during the period. Carillon Tower Advisers Inc. bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $2,287,000. Assetmark Inc. lifted its holdings in shares of Analog Devices by 0.9% during the 4th quarter. Assetmark Inc. now owns 81,482 shares of the semiconductor company’s stock worth $7,254,000 after acquiring an additional 721 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Analog Devices by 9.6% during the 4th quarter. Amalgamated Bank now owns 48,381 shares of the semiconductor company’s stock worth $4,307,000 after acquiring an additional 4,251 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Margaret K. Seif sold 7,000 shares of the stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $91.87, for a total transaction of $643,090.00. Following the completion of the sale, the senior vice president now directly owns 24,517 shares in the company, valued at $2,252,376.79. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $90.47, for a total transaction of $904,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,187 shares of company stock valued at $7,395,657. Corporate insiders own 1.10% of the company’s stock.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 30th. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.08. Analog Devices had a net margin of 17.72% and a return on equity of 20.34%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue was up 31.8% on a year-over-year basis. research analysts expect that Analog Devices, Inc. will post 5.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 19th. Shareholders of record on Friday, June 8th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, June 7th. Analog Devices’s dividend payout ratio (DPR) is currently 40.68%.
A number of analysts have recently weighed in on ADI shares. Raymond James raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a report on Monday, March 26th. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Monday, March 5th. SunTrust Banks increased their price objective on shares of Analog Devices to $116.00 and gave the company a “positive” rating in a research note on Thursday, April 12th. They noted that the move was a valuation call. KeyCorp increased their price objective on shares of Analog Devices from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, March 1st. Finally, UBS Group raised shares of Analog Devices from a “market perform” rating to an “outperform” rating in a research note on Monday, March 26th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $104.33.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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