Williams Jones & Associates LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 38.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,372 shares of the semiconductor company’s stock after selling 6,986 shares during the quarter. Williams Jones & Associates LLC’s holdings in Analog Devices were worth $1,197,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ADI. First American Bank raised its position in shares of Analog Devices by 1.7% during the 1st quarter. First American Bank now owns 9,628 shares of the semiconductor company’s stock valued at $1,014,000 after purchasing an additional 161 shares during the period. 10 15 Associates Inc. raised its position in shares of Analog Devices by 0.7% during the 4th quarter. 10 15 Associates Inc. now owns 30,283 shares of the semiconductor company’s stock valued at $2,599,000 after purchasing an additional 220 shares during the period. Tradition Capital Management LLC raised its position in shares of Analog Devices by 18.6% during the 1st quarter. Tradition Capital Management LLC now owns 6,470 shares of the semiconductor company’s stock valued at $681,000 after purchasing an additional 1,015 shares during the period. Riverbridge Partners LLC raised its position in shares of Analog Devices by 7.6% during the 1st quarter. Riverbridge Partners LLC now owns 501,781 shares of the semiconductor company’s stock valued at $52,822,000 after purchasing an additional 35,586 shares during the period. Finally, Virtu Financial LLC raised its position in shares of Analog Devices by 1,429.5% during the 1st quarter. Virtu Financial LLC now owns 41,679 shares of the semiconductor company’s stock valued at $4,387,000 after purchasing an additional 38,954 shares during the period. Institutional investors own 89.64% of the company’s stock.
In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $98.23, for a total transaction of $982,300.00. Following the completion of the transaction, the chief executive officer now directly owns 31,206 shares of the company’s stock, valued at approximately $3,065,365.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Yusuf Jamal sold 31,867 shares of Analog Devices stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the transaction, the senior vice president now directly owns 2,124 shares of the company’s stock, valued at $208,555.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,060 shares of company stock worth $9,499,815. Insiders own 0.50% of the company’s stock.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.45 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Analog Devices, Inc. will post 5.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 31st were issued a $0.54 dividend. The ex-dividend date was Thursday, May 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.07%. Analog Devices’s dividend payout ratio (DPR) is presently 36.36%.
Several brokerages have recently commented on ADI. ValuEngine downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. BidaskClub downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Zacks Investment Research upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Nomura started coverage on shares of Analog Devices in a report on Monday, June 3rd. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of Analog Devices from $100.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and an average target price of $109.00.
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About Analog Devices
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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