Assetmark Inc. grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 24,079.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,761 shares of the semiconductor company’s stock after purchasing an additional 80,427 shares during the period. Assetmark Inc.’s holdings in Analog Devices were worth $6,959,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Sumitomo Mitsui Financial Group Inc. purchased a new position in Analog Devices in the second quarter worth $119,000. WFG Advisors LP grew its position in Analog Devices by 26.4% in the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 330 shares in the last quarter. NEXT Financial Group Inc grew its position in Analog Devices by 64.4% in the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 600 shares in the last quarter. Crow Point Partners LLC purchased a new position in Analog Devices in the third quarter worth $140,000. Finally, Archford Capital Strategies LLC grew its position in Analog Devices by 3,590.9% in the second quarter. Archford Capital Strategies LLC now owns 4,466 shares of the semiconductor company’s stock worth $158,000 after acquiring an additional 4,345 shares in the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.
Several analysts have weighed in on ADI shares. BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Drexel Hamilton reissued a “buy” rating and issued a $105.00 price target on shares of Analog Devices in a research note on Wednesday, August 30th. Jefferies Group reissued a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research note on Thursday, October 19th. Citigroup reissued a “neutral” rating and issued a $88.00 price target (down from $91.00) on shares of Analog Devices in a research note on Friday, September 1st. Finally, Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Tuesday, October 10th. Eleven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Analog Devices has an average rating of “Buy” and a consensus price target of $96.04.
Analog Devices, Inc. (NASDAQ ADI) opened at $86.11 on Friday. Analog Devices, Inc. has a one year low of $71.00 and a one year high of $93.99. The stock has a market cap of $31,740.00, a PE ratio of 18.13, a P/E/G ratio of 1.57 and a beta of 1.29. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Analog Devices’s revenue was up 53.4% on a year-over-year basis. analysts anticipate that Analog Devices, Inc. will post 5.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, November 30th. Analog Devices’s payout ratio is currently 90.91%.
In other Analog Devices news, SVP Margaret K. Seif sold 7,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $84.53, for a total value of $591,710.00. Following the sale, the senior vice president now owns 20,404 shares in the company, valued at $1,724,750.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 100,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $85.17, for a total transaction of $8,517,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,256 shares of company stock valued at $18,796,594. 1.10% of the stock is owned by insiders.
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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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