Driehaus Capital Management LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 15.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,504 shares of the semiconductor company’s stock after selling 1,023 shares during the quarter. Driehaus Capital Management LLC’s holdings in Analog Devices were worth $490,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Reik & CO. LLC increased its holdings in shares of Analog Devices by 16.8% in the fourth quarter. Reik & CO. LLC now owns 3,830 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 550 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Analog Devices by 4.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,766 shares of the semiconductor company’s stock worth $1,137,000 after purchasing an additional 555 shares during the last quarter. Somerset Trust Co increased its holdings in shares of Analog Devices by 2.5% in the fourth quarter. Somerset Trust Co now owns 24,164 shares of the semiconductor company’s stock worth $2,151,000 after purchasing an additional 587 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Analog Devices by 12.1% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 5,521 shares of the semiconductor company’s stock worth $492,000 after purchasing an additional 595 shares during the last quarter. Finally, NEXT Financial Group Inc increased its holdings 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 worth $136,000 after purchasing an additional 600 shares during the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ADI traded down $2.63 during mid-day trading on Friday, reaching $88.31. 2,294,318 shares of the company’s stock traded hands, compared to its average volume of 2,549,651. The stock has a market cap of $33,629.94, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.35 and a beta of 1.22. Analog Devices, Inc. has a 12 month low of $74.65 and a 12 month high of $98.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.31 and a current ratio of 1.76.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. The firm had revenue of $1.52 billion for 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 company’s quarterly revenue was up 54.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. analysts predict that Analog Devices, Inc. will post 5.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Friday, March 9th were paid a dividend of $0.48 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.17%. Analog Devices’s dividend payout ratio is currently 40.68%.
Several brokerages have recently issued reports on ADI. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. B. Riley reaffirmed a “buy” rating and issued a $122.00 target price (up from $113.00) on shares of Analog Devices in a report on Wednesday, February 28th. Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Royal Bank of Canada reissued a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research note on Thursday, January 4th. Finally, Stifel Nicolaus boosted their price objective on Analog Devices from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Analog Devices presently has an average rating of “Buy” and a consensus price target of $100.79.
In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $91.25, for a total value of $912,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Eileen Wynne sold 5,209 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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. Insiders sold 59,164 shares of company stock valued at $5,363,713 in the last quarter. 1.10% of the stock is owned by company insiders.
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Analog Devices Company 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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