West Oak Capital LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 13.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,086 shares of the semiconductor company’s stock after selling 3,210 shares during the period. West Oak Capital LLC’s holdings in Analog Devices were worth $1,563,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Quadrature Capital Ltd raised its stake in shares of Analog Devices by 8.8% in the fourth quarter. Quadrature Capital Ltd now owns 40,730 shares of the semiconductor company’s stock worth $2,958,000 after buying an additional 3,278 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of Analog Devices during the fourth quarter worth $7,926,000. Kentucky Retirement Systems acquired a new stake in shares of Analog Devices during the fourth quarter worth $1,624,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Analog Devices during the fourth quarter valued at approximately $725,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at approximately $4,324,000. Hedge funds and other institutional investors own 87.25% of the company’s stock.
Analog Devices, Inc. (NASDAQ ADI) opened at 80.27 on Friday. The company has a 50-day moving average of $80.68 and a 200-day moving average of $78.42. The company has a market cap of $29.46 billion, a PE ratio of 30.74 and a beta of 1.30. Analog Devices, Inc. has a 52 week low of $56.43 and a 52 week high of $90.49.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.18. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities analysts expect that Analog Devices, Inc. will post $4.37 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.80 annualized dividend and a yield of 2.24%. Analog Devices’s dividend payout ratio (DPR) is presently 67.92%.
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Several research analysts recently commented on the stock. B. Riley reaffirmed a “buy” rating and issued a $103.00 target price on shares of Analog Devices in a research note on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research note on Monday, May 22nd. Stephens raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $93.00 target price on shares of Analog Devices in a research note on Tuesday, May 9th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Analog Devices in a research note on Friday, June 16th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $88.67.
In other news, CEO Vincent Roche sold 47,500 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the sale, the chief executive officer now owns 61,484 shares in the company, valued at $5,318,366. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Eileen Wynne sold 5,945 shares of the business’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $75.96, for a total value of $451,582.20. Following the sale, the chief accounting officer now owns 3,305 shares in the company, valued at approximately $251,047.80. The disclosure for this sale can be found here. Insiders sold 65,526 shares of company stock worth $5,524,891 in the last quarter. 1.10% of the stock is owned by insiders.
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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