Montag A & Associates Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 73.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,378 shares of the semiconductor company’s stock after selling 14,715 shares during the period. Montag A & Associates Inc.’s holdings in Analog Devices were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in Analog Devices by 7.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,251 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 90 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Analog Devices by 41.8% in the 1st quarter. Parallel Advisors LLC now owns 3,484 shares of the semiconductor company’s stock worth $367,000 after acquiring an additional 1,027 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of Analog Devices by 92.2% in the 1st quarter. Moors & Cabot Inc. now owns 6,048 shares of the semiconductor company’s stock valued at $638,000 after buying an additional 2,901 shares during the period. Somerville Kurt F grew its stake in shares of Analog Devices by 1.0% in the 1st quarter. Somerville Kurt F now owns 125,442 shares of the semiconductor company’s stock valued at $13,204,000 after buying an additional 1,263 shares during the period. Finally, Fayerweather Charles grew its stake in shares of Analog Devices by 1.0% in the 1st quarter. Fayerweather Charles now owns 15,109 shares of the semiconductor company’s stock valued at $1,590,000 after buying an additional 145 shares during the period. Institutional investors own 90.04% of the company’s stock.
Several analysts have recently commented on ADI shares. Zacks Investment Research upgraded Analog Devices from a “sell” rating to a “hold” rating in a research note on Monday, February 18th. SunTrust Banks lifted their price target on Analog Devices to $126.00 and gave the company an “average” rating in a research note on Thursday, February 21st. Robert W. Baird reiterated a “buy” rating and set a $100.00 price target on shares of Analog Devices in a research note on Wednesday, February 20th. Piper Jaffray Companies reiterated an “outperform” rating and set a $112.00 price target on shares of Analog Devices in a research note on Friday, February 1st. Finally, Bank of America upgraded Analog Devices from a “neutral” rating to a “buy” rating and lifted their price target for the company from $96.00 to $125.00 in a research note on Monday, February 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $104.71.
ADI stock traded up $1.00 during midday trading on Wednesday, reaching $98.11. 2,607,551 shares of the company’s stock traded hands, compared to its average volume of 2,911,190. The stock has a market capitalization of $36.39 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.51 and a beta of 1.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.08. Analog Devices, Inc. has a 52 week low of $76.62 and a 52 week high of $118.54.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.45 EPS. Equities research analysts anticipate that Analog Devices, Inc. will post 5.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 31st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, May 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.20%. Analog Devices’s dividend payout ratio (DPR) is currently 36.36%.
In related news, SVP Yusuf Jamal sold 31,867 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total value of $3,129,020.73. Following the completion of the transaction, the senior vice president now directly owns 2,124 shares in the company, valued at $208,555.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.50, for a total transaction of $1,165,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 104,070 shares of company stock valued at $10,998,121 over the last 90 days. Company insiders own 0.50% of the company’s stock.
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About Analog Devices
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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