Fort L.P. decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 23.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 16,153 shares of the semiconductor company’s stock after selling 4,860 shares during the period. Fort L.P.’s holdings in Analog Devices were worth $1,448,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MBE Wealth Management LLC bought a new position in shares of Analog Devices during the first quarter valued at approximately $25,000. HHM Wealth Advisors LLC bought a new position in shares of Analog Devices during the first quarter valued at approximately $29,000. Pacitti Group Inc. bought a new position in Analog Devices in the fourth quarter worth approximately $38,000. TCI Wealth Advisors Inc. grew its stake in Analog Devices by 43.9% in the first quarter. TCI Wealth Advisors Inc. now owns 436 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Fortis Advisors LLC bought a new position in Analog Devices in the first quarter worth approximately $45,000. 85.44% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Analog Devices from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Credit Suisse Group reissued a “buy” rating and issued a $130.00 price objective on shares of Analog Devices in a research note on Thursday, May 21st. Deutsche Bank increased their price objective on Analog Devices from $110.00 to $115.00 and gave the stock a “hold” rating in a research note on Thursday, May 21st. Bank of America reissued a “buy” rating and issued a $140.00 price objective on shares of Analog Devices in a research note on Wednesday. Finally, Barclays dropped their target price on Analog Devices from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $122.50.
In related news, Director Bruce R. Evans acquired 2,631 shares of Analog Devices stock in a transaction on Wednesday, March 18th. The stock was acquired at an average price of $90.32 per share, for a total transaction of $237,631.92. Also, Director James Champy sold 2,155 shares of Analog Devices stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $113.61, for a total value of $244,829.55. Following the transaction, the director now owns 12,415 shares of the company’s stock, valued at approximately $1,410,468.15. The disclosure for this sale can be found here. Insiders sold a total of 14,729 shares of company stock valued at $1,632,464 in the last 90 days. 0.42% of the stock is currently owned by company insiders.
ADI stock traded down $4.64 during midday trading on Thursday, reaching $118.24. The stock had a trading volume of 1,275,568 shares, compared to its average volume of 2,866,185. The stock has a market cap of $45.14 billion, a PE ratio of 41.23, a P/E/G ratio of 2.33 and a beta of 1.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.92 and a current ratio of 1.30. The firm has a fifty day simple moving average of $109.93 and a two-hundred day simple moving average of $109.92. Analog Devices, Inc. has a 52-week low of $79.07 and a 52-week high of $127.39.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Analog Devices had a return on equity of 14.51% and a net margin of 20.05%. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 4.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Friday, May 29th were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.48 dividend on an annualized basis and a yield of 2.10%. Analog Devices’s dividend payout ratio (DPR) is 48.16%.
Analog Devices Company Profile
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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