Gulf International Bank UK Ltd lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 75,810 shares of the semiconductor company’s stock after selling 275 shares during the period. Gulf International Bank UK Ltd’s holdings in Analog Devices were worth $13,051,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in ADI. Camden National Bank bought a new position in shares of Analog Devices during the 4th quarter valued at $247,000. Natixis Advisors L.P. grew its holdings in shares of Analog Devices by 0.4% during the 1st quarter. Natixis Advisors L.P. now owns 132,123 shares of the semiconductor company’s stock valued at $20,488,000 after purchasing an additional 510 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Analog Devices during the 1st quarter valued at $90,000. Cullen Frost Bankers Inc. grew its holdings in shares of Analog Devices by 4.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 50,866 shares of the semiconductor company’s stock valued at $7,888,000 after purchasing an additional 2,132 shares during the last quarter. Finally, Endurance Wealth Management Inc. purchased a new stake in Analog Devices during the 1st quarter valued at $141,000. 99.18% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Monday, July 26th. They set an “equal weight” rating and a $170.00 price target for the company. Truist Securities increased their price target on shares of Analog Devices from $179.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. Jefferies Financial Group increased their price target on shares of Analog Devices from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. Sanford C. Bernstein raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and increased their price target for the company from $165.00 to $185.00 in a research report on Thursday, May 20th. Finally, Stifel Nicolaus increased their price target on shares of Analog Devices from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $181.40.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, August 17th. The semiconductor company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Analog Devices had a net margin of 26.15% and a return on equity of 18.86%. Analog Devices’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. Research analysts expect that Analog Devices, Inc. will post 6.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Friday, August 27th were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, August 26th. This represents a $2.76 dividend on an annualized basis and a yield of 1.60%. Analog Devices’s dividend payout ratio is currently 56.21%.
Analog Devices announced that its board has authorized a share repurchase plan on Wednesday, August 25th that permits the company to buyback $8.50 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 13.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Analog Devices Profile
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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