OppenheimerFunds Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 38.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 5,544 shares of the semiconductor company’s stock after selling 3,524 shares during the quarter. OppenheimerFunds Inc.’s holdings in Analog Devices were worth $505,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Analog Devices by 17.7% in the 1st quarter. JPMorgan Chase & Co. now owns 22,229,063 shares of the semiconductor company’s stock valued at $2,025,734,000 after buying an additional 3,344,969 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Analog Devices by 30.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,729,787 shares of the semiconductor company’s stock valued at $1,251,195,000 after buying an additional 3,184,232 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of Analog Devices in the 1st quarter valued at about $108,490,000. Sterling Capital Management LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at about $87,511,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 7.0% in the 1st quarter. Franklin Resources Inc. now owns 11,238,318 shares of the semiconductor company’s stock valued at $1,024,150,000 after buying an additional 739,365 shares during the period. 87.38% of the stock is owned by institutional investors.
NASDAQ:ADI opened at $96.50 on Thursday. Analog Devices, Inc. has a 12 month low of $76.07 and a 12 month high of $103.59. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.65. The company has a market cap of $36.61 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.37 and a beta of 1.26.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 19th. Shareholders of record on Friday, June 8th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $1.92 annualized dividend and a yield of 1.99%. Analog Devices’s dividend payout ratio (DPR) is currently 40.68%.
Several equities analysts have recently issued reports on the company. Raymond James raised Analog Devices from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Monday, March 26th. UBS Group raised Analog Devices from a “market perform” rating to an “outperform” rating in a report on Monday, March 26th. BMO Capital Markets upped their price target on Analog Devices from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, March 1st. Stifel Nicolaus upped their price target on Analog Devices from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 1st. Finally, BidaskClub cut Analog Devices from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $104.33.
In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $86.95, for a total value of $869,500.00. Following the completion of the sale, the chief executive officer now directly owns 17,376 shares in the company, valued at $1,510,843.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Hassett sold 17,150 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $97.95, for a total value of $1,679,842.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,187 shares of company stock valued at $7,395,657. 1.10% of the stock is owned by company insiders.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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