Analog Devices Inc. (ADI) Shares Sold by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC lowered its position in Analog Devices Inc. (NASDAQ:ADI) by 16.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,057 shares of the company’s stock after selling 790 shares during the period. Janney Montgomery Scott LLC’s holdings in Analog Devices were worth $224,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Tdam USA Inc. raised its position in shares of Analog Devices by 0.3% in the second quarter. Tdam USA Inc. now owns 9,028 shares of the company’s stock worth $511,000 after buying an additional 23 shares during the last quarter. World Asset Management Inc raised its position in shares of Analog Devices by 0.3% in the second quarter. World Asset Management Inc now owns 30,251 shares of the company’s stock worth $1,713,000 after buying an additional 77 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Analog Devices by 1.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,875 shares of the company’s stock worth $401,000 after buying an additional 102 shares during the last quarter. HL Financial Services LLC raised its position in shares of Analog Devices by 1.0% in the second quarter. HL Financial Services LLC now owns 11,786 shares of the company’s stock worth $667,000 after buying an additional 113 shares during the last quarter. Finally, West Oak Capital LLC raised its position in shares of Analog Devices by 0.5% in the second quarter. West Oak Capital LLC now owns 21,430 shares of the company’s stock worth $1,214,000 after buying an additional 115 shares during the last quarter. Institutional investors own 85.99% of the company’s stock.
Analog Devices Inc. (NASDAQ:ADI) traded up 0.66% on Monday, hitting $62.46. The company had a trading volume of 2,167,214 shares. Analog Devices Inc. has a one year low of $47.24 and a one year high of $66.91. The stock’s 50-day moving average price is $63.15 and its 200 day moving average price is $58.87. The company has a market capitalization of $19.20 billion, a P/E ratio of 29.50 and a beta of 1.21.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Analog Devices had a return on equity of 19.40% and a net margin of 19.49%. The firm had revenue of $870 million for the quarter, compared to analyst estimates of $847.43 million. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Analog Devices Inc. will post $2.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Friday, August 26th were given a $0.42 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.69%. Analog Devices’s dividend payout ratio (DPR) is presently 79.62%.
ADI has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $73.00 price target on shares of Analog Devices in a research report on Wednesday, July 27th. MKM Partners upped their price target on Analog Devices from $56.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Wells Fargo & Co. reiterated a “buy” rating on shares of Analog Devices in a research report on Thursday, August 18th. Oppenheimer Holdings Inc. upgraded Analog Devices from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Wednesday, July 27th. Finally, Citigroup Inc. cut Analog Devices from a “buy” rating to a “neutral” rating and upped their price target for the company from $60.00 to $68.00 in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $70.68.
In other news, SVP Rick D. Hess sold 6,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $60.03, for a total value of $360,180.00. Following the transaction, the senior vice president now directly owns 36,495 shares of the company’s stock, valued at approximately $2,190,794.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 25,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $64.02, for a total value of $1,600,500.00. Following the completion of the transaction, the director now directly owns 257,631 shares in the company, valued at $16,493,536.62. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.
About Analog Devices
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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