Royal Bank of Canada cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 28.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 293,236 shares of the semiconductor company’s stock after selling 118,292 shares during the period. Royal Bank of Canada owned approximately 0.08% of Analog Devices worth $26,722,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Icon Wealth Partners LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at approximately $121,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Analog Devices during the fourth quarter valued at approximately $139,000. Massey Quick Simon & CO. LLC raised its holdings in shares of Analog Devices by 98.8% during the first quarter. Massey Quick Simon & CO. LLC now owns 1,660 shares of the semiconductor company’s stock valued at $151,000 after purchasing an additional 825 shares during the last quarter. Avestar Capital LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at approximately $158,000. Finally, Gables Capital Management Inc. purchased a new position in shares of Analog Devices during the first quarter valued at approximately $173,000. 87.38% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a report on Saturday. Loop Capital assumed coverage on shares of Analog Devices in a report on Thursday, June 21st. They set a “buy” rating and a $117.00 price objective for the company. Zacks Investment Research cut shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Morgan Stanley boosted their price objective on shares of Analog Devices from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, May 31st. Finally, Piper Jaffray Companies boosted their price objective on shares of Analog Devices from $99.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, May 31st. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $104.33.
Shares of Analog Devices opened at $95.92 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.14. Analog Devices, Inc. has a fifty-two week low of $76.07 and a fifty-two week high of $103.59. The firm has a market cap of $35.59 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.33 and a beta of 1.26.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 30th. The semiconductor company reported $1.45 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $1.47 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. Analog Devices’s revenue for the quarter was up 31.8% on a year-over-year basis. research analysts anticipate 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. Investors of record on Friday, June 8th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, June 7th. Analog Devices’s payout ratio is 40.68%.
In related news, Director Neil S. Novich sold 7,500 shares of the company’s stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $95.90, for a total transaction of $719,250.00. Following the sale, the director now owns 30,240 shares of the company’s stock, valued at $2,900,016. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were 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. In the last ninety days, insiders have sold 86,687 shares of company stock worth $8,114,907. 1.10% of the stock is owned by insiders.
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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