Tyers Asset Management LLC lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,196 shares of the semiconductor company’s stock after buying an additional 4,144 shares during the period. Tyers Asset Management LLC’s holdings in Analog Devices were worth $2,968,000 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. TCW Group Inc. bought a new position in Analog Devices during the 1st quarter worth about $10,816,000. Hoylecohen LLC increased its holdings in Analog Devices by 4.9% during the 1st quarter. Hoylecohen LLC now owns 10,116 shares of the semiconductor company’s stock worth $1,065,000 after purchasing an additional 475 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Analog Devices by 42.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,801,429 shares of the semiconductor company’s stock worth $189,636,000 after purchasing an additional 533,882 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Analog Devices during the 1st quarter worth about $17,824,000. Finally, Teza Capital Management LLC boosted its stake in shares of Analog Devices by 6.4% during the 1st quarter. Teza Capital Management LLC now owns 6,189 shares of the semiconductor company’s stock worth $652,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.
A number of equities analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of Analog Devices in a research note on Tuesday, April 30th. BidaskClub downgraded shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Robert W. Baird restated a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research note on Wednesday, February 20th. Finally, Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $106.00 price objective for the company. in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $109.00.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $1.45 EPS. Analog Devices’s revenue was down 2.4% on a year-over-year basis. As a group, equities analysts forecast that Analog Devices, Inc. will post 5.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 31st were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.16 annualized dividend and a yield of 2.07%. Analog Devices’s dividend payout ratio (DPR) is currently 36.36%.
In related news, SVP Martin Cotter sold 1,244 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.39, for a total value of $134,837.16. Following the completion of the sale, the senior vice president now directly owns 173 shares in the company, valued at approximately $18,751.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 15,505 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $107.20, for a total transaction of $1,662,136.00. Following the completion of the sale, the chief executive officer now owns 17,376 shares of the company’s stock, valued at $1,862,707.20. The disclosure for this sale can be found here. Insiders sold a total of 91,060 shares of company stock valued at $9,499,815 over the last quarter. 0.50% of the stock is currently owned by company insiders.
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About Analog Devices
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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