Profund Advisors LLC raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,911 shares of the semiconductor company’s stock after purchasing an additional 17,944 shares during the quarter. Profund Advisors LLC’s holdings in Analog Devices were worth $9,874,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in ADI. Sit Investment Associates Inc. increased its position in Analog Devices by 381.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,275 shares of the semiconductor company’s stock valued at $114,000 after acquiring an additional 1,010 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of Analog Devices during the fourth quarter valued at $121,000. Fieldpoint Private Securities LLC boosted its stake in shares of Analog Devices by 91.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 705 shares during the period. Clear Perspective Advisors LLC boosted its stake in shares of Analog Devices by 3,884.2% during the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock valued at $130,000 after purchasing an additional 1,476 shares during the period. Finally, Cerebellum GP LLC purchased a new stake in Analog Devices in the fourth quarter worth about $130,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.
In related news, Director Ray Stata sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $91.70, for a total value of $917,000.00. Following the sale, the director now owns 179,481 shares of the company’s stock, valued at approximately $16,458,407.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Gregory N. Henderson sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $91.52, for a total value of $366,080.00. Following the completion of the sale, the senior vice president now owns 1,163 shares in the company, valued at $106,437.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,618 shares of company stock worth $7,554,228. 0.70% of the stock is currently owned by company insiders.
Several analysts have commented on the stock. BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Drexel Hamilton restated a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a report on Tuesday, November 21st. B. Riley reiterated a “buy” rating and issued a $122.00 price target (up previously from $113.00) on shares of Analog Devices in a report on Wednesday, February 28th. Zacks Investment Research downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research report on Thursday, January 4th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $100.57.
Analog Devices, Inc. (ADI) traded down $0.57 during midday trading on Wednesday, reaching $94.09. The company had a trading volume of 1,549,718 shares, compared to its average volume of 3,250,000. The stock has a market capitalization of $34,790.00, a P/E ratio of 276.74, a PEG ratio of 1.43 and a beta of 1.25. 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 1 year low of $74.65 and a 1 year high of $98.38.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.49 billion. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. The company’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. sell-side analysts predict that Analog Devices, Inc. will post 5.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from Analog Devices’s previous quarterly dividend of $0.45. Analog Devices’s dividend payout ratio (DPR) is currently 564.71%.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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