Pinebridge Investments L.P. bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,752 shares of the semiconductor company’s stock, valued at approximately $668,000.
Several other large investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Analog Devices in the second quarter valued at approximately $119,000. WFG Advisors LP boosted its stake in shares of Analog Devices by 26.4% in the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 330 shares in the last quarter. NEXT Financial Group Inc boosted its stake in shares of Analog Devices by 64.4% in the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 600 shares in the last quarter. Crow Point Partners LLC purchased a new stake in shares of Analog Devices in the third quarter valued at approximately $140,000. Finally, Archford Capital Strategies LLC boosted its stake in shares of 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 valued at $158,000 after buying an additional 4,345 shares in the last quarter. 87.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at $85.52 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.13. Analog Devices, Inc. has a 12-month low of $71.00 and a 12-month high of $93.99. The stock has a market capitalization of $31,530.00, a price-to-earnings ratio of 18.27, a PEG ratio of 1.58 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.09. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $1.05 earnings per share. The business’s revenue was up 53.4% on a year-over-year basis. sell-side analysts anticipate that Analog Devices, Inc. will post 5.2 EPS for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.80 annualized dividend and a yield of 2.10%. Analog Devices’s payout ratio is currently 90.91%.
In other Analog Devices news, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the sale, the director now directly owns 234,481 shares in the company, valued at $19,579,163.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jean Philibert sold 5,098 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $90.24, for a total value of $460,043.52. Following the sale, the senior vice president now owns 5,098 shares of the company’s stock, valued at $460,043.52. The disclosure for this sale can be found here. Insiders sold 219,256 shares of company stock valued at $18,796,594 over the last quarter. Insiders own 1.10% of the company’s stock.
A number of analysts have commented on the company. Royal Bank Of Canada boosted their target price on Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Tuesday, October 10th. BidaskClub upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Drexel Hamilton reiterated a “buy” rating and set a $105.00 target price on shares of Analog Devices in a research report on Wednesday, August 30th. Finally, B. Riley reiterated a “buy” rating and set a $113.00 target price (up from $110.00) on shares of Analog Devices in a research report on Thursday, November 16th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices currently has an average rating of “Buy” and an average price target of $96.04.
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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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