Alkeon Capital Management LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,654,022 shares of the semiconductor company’s stock after buying an additional 127,485 shares during the period. Analog Devices accounts for about 1.4% of Alkeon Capital Management LLC’s portfolio, making the stock its 13th largest position. Alkeon Capital Management LLC owned 0.71% of Analog Devices worth $236,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of ADI. Sit Investment Associates Inc. increased its position in Analog Devices by 381.1% during the 4th quarter. Sit Investment Associates Inc. now owns 1,275 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 1,010 shares during the period. Icon Wealth Partners LLC purchased a new position in Analog Devices during the 4th quarter valued at about $121,000. Fieldpoint Private Securities LLC increased its position in Analog Devices by 91.6% during the 3rd 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 increased its position in Analog Devices by 3,884.2% during the 3rd 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 position in Analog Devices during the 4th quarter valued at about $130,000. 88.52% of the stock is currently owned by institutional investors.
A number of research analysts have commented on ADI shares. Jefferies Group raised their target price on shares of Analog Devices to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 22nd. BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Stifel Nicolaus cut their target price on shares of Analog Devices from $100.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, November 22nd. B. Riley raised their target price on shares of Analog Devices from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, November 22nd. Finally, KeyCorp reissued a “buy” rating and set a $107.00 target price on shares of Analog Devices in a research report on Friday, November 24th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $100.57.
Shares of ADI stock opened at $92.71 on Wednesday. Analog Devices, Inc. has a 1-year low of $74.65 and a 1-year high of $98.38. The firm has a market cap of $34,817.01, a PE ratio of 44.36, a PEG ratio of 1.41 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 (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Analog Devices had a net margin of 13.80% and a return on equity of 18.78%. The company’s revenue was up 54.4% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. sell-side analysts predict that Analog Devices, Inc. will post 5.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Friday, March 9th were paid a $0.48 dividend. The ex-dividend date was Thursday, March 8th. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.07%. Analog Devices’s dividend payout ratio (DPR) is 91.87%.
In related news, CAO Eileen Wynne sold 5,209 shares of Analog Devices 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 directly owns 3,895 shares in the company, valued at approximately $369,479.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $91.70, for a total transaction of $917,000.00. Following the completion of the sale, the director now owns 179,481 shares of the company’s stock, valued at $16,458,407.70. The disclosure for this sale can be found here. Insiders sold a total of 71,427 shares of company stock valued at $6,483,250 over the last quarter. 0.70% 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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