Buckingham Asset Management LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,938 shares of the semiconductor company’s stock, valued at approximately $253,000.
Several other large investors have also made changes to their positions in ADI. Franklin Resources Inc. raised its holdings in shares of Analog Devices by 54.1% during the second quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock valued at $719,786,000 after acquiring an additional 3,248,336 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Analog Devices by 576.1% during the second quarter. Janus Henderson Group PLC now owns 1,785,372 shares of the semiconductor company’s stock valued at $138,903,000 after acquiring an additional 1,521,316 shares during the period. BlackRock Inc. raised its holdings in shares of Analog Devices by 6.2% during the second quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after acquiring an additional 1,437,338 shares during the period. Prudential PLC increased its stake in Analog Devices by 23,301.9% in the 2nd quarter. Prudential PLC now owns 1,304,189 shares of the semiconductor company’s stock valued at $101,466,000 after buying an additional 1,298,616 shares during the period. Finally, FMR LLC grew its position in Analog Devices by 14.6% in the second quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock worth $691,608,000 after acquiring an additional 1,132,549 shares in the last quarter. 87.31% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on ADI. B. Riley reissued a “buy” rating and issued a $110.00 target price on shares of Analog Devices in a research report on Sunday, August 27th. Stifel Nicolaus upped their price objective on shares of Analog Devices from $97.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a report on Wednesday, August 30th. BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a report on Thursday, October 19th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $96.04.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.09. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The business’s revenue was up 53.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 EPS. sell-side analysts forecast that Analog Devices, Inc. will post 5.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, November 30th. Analog Devices’s dividend payout ratio (DPR) is currently 86.96%.
In other Analog Devices news, SVP Peter Real sold 4,505 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $83.52, for a total value of $376,257.60. Following the completion of the sale, the senior vice president now owns 13,531 shares in the company, valued at approximately $1,130,109.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the sale, the director now owns 234,481 shares of the company’s stock, valued at approximately $19,579,163.50. The disclosure for this sale can be found here. Insiders have sold a total of 112,256 shares of company stock valued at $9,687,884 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.
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Analog Devices 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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