Schroder Investment Management Group lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 92.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,241 shares of the semiconductor company’s stock after selling 344,605 shares during the period. Schroder Investment Management Group’s holdings in Analog Devices were worth $2,333,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC increased its holdings in Analog Devices by 75.0% during the 2nd quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock worth $1,557,000 after purchasing an additional 15 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Analog Devices during the 2nd quarter worth about $119,000. NEXT Financial Group Inc increased its holdings in Analog Devices by 64.4% during the 3rd quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 600 shares in the last quarter. WFG Advisors LP increased its holdings in Analog Devices by 26.4% during the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 330 shares in the last quarter. Finally, Crow Point Partners LLC bought a new position in Analog Devices during the 3rd quarter worth about $140,000. Institutional investors and hedge funds own 87.20% of the company’s stock.
ADI has been the subject of a number of research reports. Jefferies Group increased their target price on Analog Devices to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Stifel Nicolaus lowered their target price on Analog Devices from $100.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, November 22nd. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a report on Thursday. B. Riley increased their target price on Analog Devices from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Finally, Citigroup restated a “neutral” rating and issued a $88.00 price objective (down previously from $91.00) on shares of Analog Devices in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $96.24.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.09. The firm had revenue of $1.54 billion for 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 company’s revenue was up 53.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. research analysts predict that Analog Devices, Inc. will post 5.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Friday, December 1st were issued a $0.45 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.80 annualized dividend and a yield of 2.11%. Analog Devices’s payout ratio is 86.96%.
In other Analog Devices news, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $83.50, for a total value of $2,087,500.00. Following the completion of the sale, the director now directly owns 234,481 shares of the company’s stock, valued at approximately $19,579,163.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jean Philibert sold 5,098 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $90.24, for a total transaction of $460,043.52. Following the completion of the sale, the senior vice president now directly owns 5,098 shares of the company’s stock, valued at $460,043.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,256 shares of company stock worth $18,796,594. 1.10% of the stock is owned by company insiders.
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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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