Quantitative Investment Management LLC reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 78.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,300 shares of the semiconductor company’s stock after selling 183,300 shares during the quarter. Quantitative Investment Management LLC’s holdings in Analog Devices were worth $4,389,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nationwide Fund Advisors increased its position in shares of Analog Devices by 7.4% during the 3rd quarter. Nationwide Fund Advisors now owns 250,791 shares of the semiconductor company’s stock valued at $21,611,000 after purchasing an additional 17,262 shares during the last quarter. Victory Capital Management Inc. grew its position in Analog Devices by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 25,734 shares of the semiconductor company’s stock worth $2,217,000 after acquiring an additional 1,060 shares during the last quarter. FDx Advisors Inc. grew its position in Analog Devices by 12.9% during the 3rd quarter. FDx Advisors Inc. now owns 15,081 shares of the semiconductor company’s stock worth $1,300,000 after acquiring an additional 1,723 shares during the last quarter. CIBC Asset Management Inc grew its position in Analog Devices by 1.5% during the 3rd quarter. CIBC Asset Management Inc now owns 49,015 shares of the semiconductor company’s stock worth $4,224,000 after acquiring an additional 741 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Analog Devices by 1.7% during the 3rd quarter. New York State Common Retirement Fund now owns 946,600 shares of the semiconductor company’s stock worth $81,569,000 after acquiring an additional 15,800 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.
Several equities analysts recently issued reports on the company. Piper Jaffray upgraded Analog Devices from a “neutral” rating to an “overweight” rating and set a $92.00 price target on the stock in a research report on Tuesday, February 13th. BidaskClub upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. B. Riley restated a “buy” rating and set a $122.00 price target (up from $113.00) on shares of Analog Devices in a research report on Wednesday, February 28th. Nomura raised their price target on Analog Devices from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 1st. Finally, BMO Capital Markets raised their price target on Analog Devices from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, March 1st. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $100.79.
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Eileen Wynne sold 5,209 shares of Analog Devices stock in a transaction on Friday, March 16th. The shares were sold at an average price of $94.86, for a total value of $494,125.74. Following the transaction, the chief accounting officer now owns 3,895 shares of the company’s stock, valued at approximately $369,479.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,164 shares of company stock valued at $5,363,713. 1.10% of the stock is currently owned by company insiders.
ADI opened at $88.31 on Friday. The company has a market capitalization of $33,740.88, a PE ratio of 18.71, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.76 and a quick ratio of 1.31. Analog Devices, Inc. has a 52 week low of $74.65 and a 52 week high of $98.38.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.13. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. The firm’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. research analysts expect that Analog Devices, Inc. will post 5.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Friday, March 9th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Thursday, March 8th. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. Analog Devices’s dividend payout ratio (DPR) is presently 40.68%.
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Analog Devices Profile
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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