Boston Private Wealth LLC boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,648 shares of the semiconductor company’s stock after buying an additional 20 shares during the period. Boston Private Wealth LLC’s holdings in Analog Devices were worth $2,921,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its position in Analog Devices by 84.6% in the first quarter. First Eagle Investment Management LLC now owns 6,520,656 shares of the semiconductor company’s stock worth $534,368,000 after buying an additional 2,987,637 shares during the period. Norges Bank bought a new position in Analog Devices during the fourth quarter worth approximately $186,510,000. UBS Asset Management Americas Inc. increased its position in Analog Devices by 204.9% in the first quarter. UBS Asset Management Americas Inc. now owns 2,468,625 shares of the semiconductor company’s stock worth $202,304,000 after buying an additional 1,658,842 shares during the period. FMR LLC increased its position in Analog Devices by 48.1% in the fourth quarter. FMR LLC now owns 5,095,746 shares of the semiconductor company’s stock worth $370,053,000 after buying an additional 1,653,882 shares during the period. Finally, American Century Companies Inc. increased its position in Analog Devices by 476.0% in the first quarter. American Century Companies Inc. now owns 1,356,047 shares of the semiconductor company’s stock worth $111,128,000 after buying an additional 1,120,612 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.
Shares of Analog Devices, Inc. (ADI) traded up 0.36% during midday trading on Friday, hitting $80.04. The stock had a trading volume of 5,700,640 shares. The stock has a market cap of $29.38 billion, a price-to-earnings ratio of 30.65 and a beta of 1.27. Analog Devices, Inc. has a 1-year low of $52.17 and a 1-year high of $90.49. The firm’s 50-day moving average price is $79.85 and its 200-day moving average price is $77.93.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Analog Devices’s revenue was up 41.2% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Friday, June 9th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.80 annualized dividend and a yield of 2.25%. Analog Devices’s dividend payout ratio is presently 67.92%.
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A number of research analysts recently commented on ADI shares. Zacks Investment Research downgraded shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 15th. Stephens raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $93.00 target price on shares of Analog Devices in a research report on Tuesday, May 9th. Credit Suisse Group assumed coverage on shares of Analog Devices in a research report on Tuesday, March 14th. They set an “outperform” rating and a $100.00 price objective on the stock. Finally, Jefferies Group LLC raised their price objective on shares of Analog Devices to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Analog Devices has an average rating of “Buy” and an average target price of $88.67.
In related news, SVP Martin Cotter sold 2,000 shares of the company’s stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $80.04, for a total transaction of $160,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Peter Real sold 3,500 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $83.26, for a total transaction of $291,410.00. Following the sale, the senior vice president now directly owns 12,526 shares of the company’s stock, valued at approximately $1,042,914.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,426 shares of company stock valued at $9,612,861. 1.10% of the stock is owned by corporate insiders.
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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