Courier Capital LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 5.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,683 shares of the semiconductor company’s stock after selling 165 shares during the period. Courier Capital LLC’s holdings in Analog Devices were worth $529,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Norges Bank acquired a new position in Analog Devices during the fourth quarter worth approximately $1,040,194,000. FMR LLC increased its position in Analog Devices by 72.8% during the first quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock worth $2,692,080,000 after buying an additional 5,748,969 shares during the period. Envestnet Asset Management Inc. increased its position in Analog Devices by 360.5% during the first quarter. Envestnet Asset Management Inc. now owns 6,144,344 shares of the semiconductor company’s stock worth $288,077,000 after buying an additional 4,810,035 shares during the period. Moneta Group Investment Advisors LLC increased its position in Analog Devices by 101,479.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock worth $674,482,000 after buying an additional 4,107,895 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Analog Devices by 47.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,126,620 shares of the semiconductor company’s stock worth $512,859,000 after buying an additional 1,007,146 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.
Insiders Place Their Bets
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $197.64, for a total transaction of $1,976,400.00. Following the completion of the sale, the chief executive officer now directly owns 70,713 shares in the company, valued at $13,975,717.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 30,000 shares of company stock worth $5,661,500 over the last three months. 0.46% of the stock is owned by insiders.
Analog Devices Stock Up 0.6 %
Analog Devices (NASDAQ:ADI – Get Free Report) last released its earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 EPS for the quarter, missing the consensus estimate of $2.52 by ($0.03). The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.10 billion. Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.52 earnings per share. Analysts anticipate that Analog Devices, Inc. will post 10.15 EPS for the current fiscal year.
Analog Devices Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, September 5th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.44 annualized dividend and a yield of 1.95%. Analog Devices’s payout ratio is currently 46.74%.
Analyst Ratings Changes
Several brokerages have weighed in on ADI. Morgan Stanley lowered their target price on Analog Devices from $195.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 24th. Sanford C. Bernstein lowered their target price on Analog Devices from $220.00 to $210.00 in a research note on Thursday, May 25th. Susquehanna lifted their target price on Analog Devices from $215.00 to $225.00 and gave the company a “positive” rating in a research note on Thursday, August 24th. Bank of America lifted their target price on Analog Devices from $205.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, July 18th. Finally, KeyCorp lowered their target price on Analog Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, May 25th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.21.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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