Seven Eight Capital LP Sells 57,500 Shares of Analog Devices, Inc. (ADI)

Seven Eight Capital LP trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 94.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,371 shares of the semiconductor company’s stock after selling 57,500 shares during the period. Seven Eight Capital LP’s holdings in Analog Devices were worth $262,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. YorkBridge Wealth Partners LLC boosted its position in Analog Devices by 0.3% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 3,753 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 11 shares during the last quarter. Pitcairn Co. boosted its position in Analog Devices by 0.6% in the 2nd quarter. Pitcairn Co. now owns 4,719 shares of the semiconductor company’s stock valued at $367,000 after buying an additional 30 shares during the last quarter. King Luther Capital Management Corp boosted its position in Analog Devices by 0.9% in the 1st quarter. King Luther Capital Management Corp now owns 3,722 shares of the semiconductor company’s stock valued at $305,000 after buying an additional 32 shares during the last quarter. CENTRAL TRUST Co boosted its position in Analog Devices by 1.4% in the 2nd quarter. CENTRAL TRUST Co now owns 2,365 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 32 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC boosted its position in Analog Devices by 1.2% in the 2nd quarter. Osborn Williams & Donohoe LLC now owns 2,834 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

In other Analog Devices news, Director Bruce R. Evans bought 14,000 shares of the stock in a transaction that occurred on Friday, July 7th. The shares were bought at an average price of $78.28 per share, for a total transaction of $1,095,920.00. Following the acquisition, the director now directly owns 67,540 shares of the company’s stock, valued at approximately $5,287,031.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $80.35, for a total transaction of $241,050.00. Following the completion of the sale, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,639,461.40. The disclosure for this sale can be found here. Insiders have sold 67,686 shares of company stock worth $5,626,942 in the last quarter. Company insiders own 1.10% of the company’s stock.

A number of research analysts have commented on the company. BidaskClub lowered Analog Devices from a “buy” rating to a “hold” rating in a research report on Saturday, September 9th. B. Riley reiterated a “buy” rating and issued a $110.00 price objective on shares of Analog Devices in a research report on Saturday, September 2nd. Citigroup Inc. reiterated a “neutral” rating and issued a $88.00 price objective (down from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. Robert W. Baird reiterated an “outperform” rating and issued a $100.00 price objective (up from $98.00) on shares of Analog Devices in a research report on Thursday, August 31st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $96.00 price objective on shares of Analog Devices in a research report on Thursday, August 31st. Twelve investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Analog Devices currently has a consensus rating of “Buy” and an average price target of $91.85.

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Shares of Analog Devices, Inc. (ADI) opened at 85.17 on Tuesday. Analog Devices, Inc. has a 1-year low of $59.54 and a 1-year high of $90.49. The firm has a 50 day moving average price of $80.23 and a 200 day moving average price of $80.14. The firm has a market cap of $31.31 billion, a P/E ratio of 42.39 and a beta of 1.29.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business’s quarterly revenue was up 64.9% compared to the same quarter last year. Analysts anticipate that Analog Devices, Inc. will post $4.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. Analog Devices’s dividend payout ratio is currently 86.12%.

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.

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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