ProShare Advisors LLC raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 53.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,233 shares of the semiconductor company’s stock after acquiring an additional 65,386 shares during the quarter. ProShare Advisors LLC owned about 0.05% of Analog Devices worth $14,567,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MARSHALL WACE ASIA Ltd bought a new position in shares of Analog Devices during the 1st quarter worth about $63,309,000. Boston Family Office LLC boosted its position in shares of Analog Devices by 37.9% during the 2nd quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after purchasing an additional 2,004 shares in the last quarter. Norinchukin Bank The boosted its position in shares of Analog Devices by 26.5% during the 1st quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock worth $1,938,000 after purchasing an additional 4,956 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of Analog Devices by 1.2% during the 2nd quarter. Prospera Financial Services Inc now owns 21,196 shares of the semiconductor company’s stock worth $1,648,000 after purchasing an additional 253 shares in the last quarter. Finally, KCG Holdings Inc. boosted its position in shares of Analog Devices by 455.1% during the 1st quarter. KCG Holdings Inc. now owns 24,624 shares of the semiconductor company’s stock worth $2,018,000 after purchasing an additional 20,188 shares in the last quarter. 86.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Peter Real sold 4,505 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $80.07, for a total transaction of $360,715.35. Following the completion of the transaction, the senior vice president now directly owns 13,531 shares of the company’s stock, valued at $1,083,427.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total transaction of $240,840.00. Following the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,638,033.12. The disclosure for this sale can be found here. Insiders have sold 70,686 shares of company stock valued at $5,867,782 over the last three months. 1.10% of the stock is owned by corporate insiders.
Shares of Analog Devices, Inc. (NASDAQ:ADI) traded up 1.82% during midday trading on Friday, hitting $83.84. 2,923,791 shares of the stock traded hands. The company’s 50-day moving average is $80.06 and its 200 day moving average is $80.17. Analog Devices, Inc. has a 52 week low of $59.54 and a 52 week high of $90.49. The firm has a market capitalization of $30.83 billion, a PE ratio of 41.73 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The business’s revenue was up 64.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Analysts anticipate that Analog Devices, Inc. will post $4.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. Analog Devices’s payout ratio is 86.12%.
A number of research firms have recently issued reports on ADI. B. Riley reissued a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research report on Tuesday, May 30th. UBS AG reissued a “neutral” rating and set a $94.00 price objective (up previously from $83.00) on shares of Analog Devices in a research report on Saturday, June 3rd. Jefferies Group LLC reissued a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research report on Monday, May 22nd. BidaskClub cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Royal Bank Of Canada increased their price objective on shares of Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $91.85.
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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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