First Allied Advisory Services Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 23.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,194 shares of the semiconductor company’s stock after selling 3,366 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Analog Devices were worth $964,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ADI. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $119,000. WFG Advisors LP boosted its stake in shares of Analog Devices by 26.4% in the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 330 shares in the last quarter. Clear Perspective Advisors LLC boosted its stake in shares of Analog Devices by 3,884.2% in the 3rd quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock valued at $130,000 after purchasing an additional 1,476 shares in the last quarter. NEXT Financial Group Inc boosted its stake in shares of Analog Devices by 64.4% in the 3rd quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 600 shares in the last quarter. Finally, Crow Point Partners LLC acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $140,000. 87.20% of the stock is currently owned by hedge funds and other institutional investors.
In other Analog Devices news, SVP Jean Philibert sold 5,098 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $90.24, for a total transaction of $460,043.52. Following the completion of the sale, the senior vice president now owns 5,098 shares in the company, valued at approximately $460,043.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Champy sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $87.00, for a total transaction of $435,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 219,256 shares of company stock valued at $18,796,594 in the last 90 days. 1.10% of the stock is currently owned by company insiders.
Shares of Analog Devices, Inc. (ADI) opened at $85.80 on Tuesday. The company has a market cap of $31,525.73, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.47. Analog Devices, Inc. has a one year low of $71.00 and a one year high of $93.99.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.09. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. Analog Devices’s quarterly revenue was up 53.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. equities research analysts forecast that Analog Devices, Inc. will post 5.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.10%. Analog Devices’s dividend payout ratio (DPR) is presently 86.96%.
A number of equities research analysts have recently weighed in on ADI shares. BidaskClub upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. B. Riley reiterated a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research report on Thursday, August 17th. BMO Capital Markets reiterated an “outperform” rating and set a $100.00 target price (up from $96.00) on shares of Analog Devices in a research report on Tuesday, August 29th. Royal Bank of Canada lifted their target price 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. Finally, Nomura upgraded shares of Analog Devices from a “reduce” rating to a “neutral” rating and lifted their target price for the stock from $72.50 to $80.00 in a research report on Thursday, August 31st. Eleven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $96.04.
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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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