Good Life Advisors LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,149 shares of the semiconductor company’s stock, valued at approximately $226,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Analog Devices by 8,439.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,472,596 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 3,431,930 shares in the last quarter. Norges Bank purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $292,919,000. FMR LLC boosted its stake in shares of Analog Devices by 18.3% during the 4th quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock worth $667,363,000 after acquiring an additional 1,200,683 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Analog Devices by 6.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,194,991 shares of the semiconductor company’s stock worth $1,561,676,000 after acquiring an additional 1,147,088 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Analog Devices by 3,063.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,079,103 shares of the semiconductor company’s stock worth $92,619,000 after acquiring an additional 1,044,995 shares in the last quarter. 89.02% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on ADI shares. Zacks Investment Research raised Analog Devices from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. ValuEngine raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. BidaskClub raised Analog Devices from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 30th. Piper Jaffray Companies reissued 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 raised Analog Devices from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $96.00 to $125.00 in a research note on Monday, February 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $104.95.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.06. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. Analog Devices’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. On average, analysts forecast that Analog Devices, Inc. will post 5.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 31st will be issued a $0.54 dividend. The ex-dividend date is Thursday, May 30th. This represents a $2.16 annualized dividend and a yield of 2.19%. Analog Devices’s dividend payout ratio (DPR) is presently 36.36%.
In other news, Director Ray Stata sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $107.68, for a total transaction of $2,153,600.00. The transaction was disclosed in a filing 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 value of $1,165,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,618 shares of company stock valued at $9,740,427. Insiders own 0.50% of the company’s stock.
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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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