Crestline Management LP purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,000 shares of the semiconductor company’s stock, valued at approximately $1,870,000.
Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Analog Devices by 3.1% during the 4th quarter. Bank of New York Mellon Corp now owns 3,178,510 shares of the semiconductor company’s stock worth $282,983,000 after acquiring an additional 94,402 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its stake in Analog Devices by 1.4% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 320,720 shares of the semiconductor company’s stock worth $27,636,000 after acquiring an additional 4,416 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in Analog Devices during the 4th quarter worth about $19,757,000. San Francisco Sentry Investment Group CA lifted its stake in Analog Devices by 62.3% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 3,474 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 1,333 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Analog Devices by 8.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 131,434 shares of the semiconductor company’s stock worth $11,325,000 after acquiring an additional 10,673 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on ADI shares. B. Riley reaffirmed a “buy” rating and issued a $113.00 price target (up previously from $110.00) on shares of Analog Devices in a research report on Thursday, November 16th. Oppenheimer reaffirmed a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Friday, November 17th. Stifel Nicolaus increased their price target on Analog Devices from $97.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Morgan Stanley increased their price target on Analog Devices from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Finally, Jefferies Group increased their price target on Analog Devices to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 22nd. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $100.57.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business posted $0.94 EPS. The business’s revenue for the quarter was up 54.4% on a year-over-year basis. analysts forecast that Analog Devices, Inc. will post 5.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Friday, March 9th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from Analog Devices’s previous quarterly dividend of $0.45. Analog Devices’s dividend payout ratio is presently 564.71%.
In related news, SVP Margaret K. Seif sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $88.83, for a total transaction of $621,810.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Joseph Hassett sold 18,400 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $85.06, for a total value of $1,565,104.00. Following the transaction, the senior vice president now owns 30,139 shares in the company, valued at approximately $2,563,623.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,618 shares of company stock worth $7,554,228. Company insiders own 0.70% of the company’s stock.
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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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