Washington Trust Bank reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 22.0% in the 1st quarter, Holdings Channel reports. The firm owned 780 shares of the semiconductor company’s stock after selling 220 shares during the quarter. Washington Trust Bank’s holdings in Analog Devices were worth $82,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ADI. XR Securities LLC purchased a new position in shares of Analog Devices in the first quarter valued at approximately $274,000. Dalton Greiner Hartman Maher & Co. lifted its stake in Analog Devices by 193.2% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 95,940 shares of the semiconductor company’s stock worth $10,100,000 after acquiring an additional 63,222 shares during the last quarter. Bridge Creek Capital Management LLC purchased a new position in Analog Devices in the first quarter worth approximately $263,000. Woodstock Corp lifted its stake in Analog Devices by 3.0% in the first quarter. Woodstock Corp now owns 16,240 shares of the semiconductor company’s stock worth $1,710,000 after acquiring an additional 475 shares during the last quarter. Finally, Riverbridge Partners LLC lifted its stake in Analog Devices by 7.6% in the first quarter. Riverbridge Partners LLC now owns 501,781 shares of the semiconductor company’s stock worth $52,822,000 after acquiring an additional 35,586 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. BidaskClub upgraded shares of Analog Devices from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 30th. Robert W. Baird reiterated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research note on Wednesday, February 20th. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $106.00 price target for the company. in a research note on Monday, March 25th. Finally, Barclays reiterated a “hold” rating and issued a $102.00 price target on shares of Analog Devices in a research note on Friday, January 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $102.86.
ADI stock opened at $112.07 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.64 and a current ratio of 2.34. Analog Devices, Inc. has a twelve month low of $76.62 and a twelve month high of $112.12. The company has a market cap of $40.70 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.64 and a beta of 1.25.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a net margin of 25.42% and a return on equity of 19.99%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. As a group, analysts predict that Analog Devices, Inc. will post 5.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, March 1st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Analog Devices’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 28th. Analog Devices’s payout ratio is presently 36.36%.
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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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