Pinnacle Associates Ltd. Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Pinnacle Associates Ltd. boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,195 shares of the semiconductor company’s stock after acquiring an additional 102 shares during the period. Pinnacle Associates Ltd.’s holdings in Analog Devices were worth $3,414,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in Analog Devices by 1.6% during the second quarter. State Street Corp now owns 20,724,346 shares of the semiconductor company’s stock valued at $4,037,310,000 after purchasing an additional 320,338 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Analog Devices by 7.5% in the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after acquiring an additional 701,367 shares during the last quarter. Norges Bank bought a new stake in shares of Analog Devices in the 4th quarter worth about $1,040,194,000. Finally, Morgan Stanley lifted its holdings in Analog Devices by 16.1% during the 4th quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock valued at $982,344,000 after buying an additional 830,281 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Up 2.3 %

Shares of Analog Devices stock opened at $197.79 on Monday. The firm’s 50 day moving average price is $193.14 and its 200-day moving average price is $184.77. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $202.77. The company has a market cap of $98.09 billion, a P/E ratio of 35.38, a PEG ratio of 4.96 and a beta of 1.17.

Analog Devices (NASDAQ:ADIGet Free Report) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period last year, the business earned $2.75 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.86%. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Insider Buying and Selling

In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,125,860.91. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 21,228 shares of company stock worth $4,134,502 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. KeyCorp lifted their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a report on Thursday, February 22nd. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a report on Thursday, January 18th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.26.

Get Our Latest Report on ADI

About Analog Devices

(Free Report)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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