Wolverine Asset Management LLC reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 50.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,734 shares of the semiconductor company’s stock after selling 15,266 shares during the quarter. Wolverine Asset Management LLC’s holdings in Analog Devices were worth $1,311,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Reik & CO. LLC lifted its stake in shares of Analog Devices by 16.8% during the fourth quarter. Reik & CO. LLC now owns 3,830 shares of the semiconductor company’s stock worth $341,000 after buying an additional 550 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Analog Devices by 4.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,766 shares of the semiconductor company’s stock worth $1,137,000 after buying an additional 555 shares during the period. Somerset Trust Co lifted its stake in shares of Analog Devices by 2.5% during the fourth quarter. Somerset Trust Co now owns 24,164 shares of the semiconductor company’s stock worth $2,151,000 after buying an additional 587 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Analog Devices by 12.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 5,521 shares of the semiconductor company’s stock worth $492,000 after buying an additional 595 shares during the period. Finally, NEXT Financial Group Inc lifted its stake in shares of Analog Devices by 64.4% during the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock worth $136,000 after buying an additional 600 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.
In other Analog Devices news, SVP Joseph Hassett sold 18,400 shares of Analog Devices stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $85.06, for a total value of $1,565,104.00. Following the completion of the transaction, the senior vice president now owns 30,139 shares of the company’s stock, valued at $2,563,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Yusuf Jamal sold 718 shares of Analog Devices stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $90.89, for a total transaction of $65,259.02. The disclosure for this sale can be found here. Insiders sold 84,618 shares of company stock valued at $7,554,228 in the last ninety days. 0.70% of the stock is owned by corporate insiders.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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. Analog Devices had a net margin of 13.80% and a return on equity of 18.78%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was up 54.4% on a year-over-year basis. equities analysts anticipate that Analog Devices, Inc. will post 5.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Friday, March 9th will be issued a $0.48 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 8th. This represents a $1.92 dividend on an annualized basis and a yield of 2.02%. Analog Devices’s payout ratio is presently 564.71%.
Several equities research analysts have recently commented on ADI shares. Stifel Nicolaus lowered their price objective on shares of Analog Devices from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. Jefferies Group lifted their price objective on shares of Analog Devices to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. B. Riley lifted their price objective on shares of Analog Devices from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Drexel Hamilton reiterated a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a research note on Tuesday, November 21st. Finally, Oppenheimer restated a “buy” rating and set a $100.00 target price on shares of Analog Devices in a research report on Friday, November 17th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $100.13.
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About Analog Devices
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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