Analog Devices, Inc. (ADI) Holdings Increased by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,339 shares of the semiconductor company’s stock after purchasing an additional 615 shares during the period. Mutual of America Capital Management LLC’s holdings in Analog Devices were worth $5,692,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of ADI. Washington Trust Bank boosted its stake in shares of Analog Devices by 127.7% in the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after buying an additional 600 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of Analog Devices in the 2nd quarter worth $130,000. Clarus Wealth Advisors purchased a new position in shares of Analog Devices in the 2nd quarter worth $139,000. Massey Quick Simon & CO. LLC boosted its stake in shares of Analog Devices by 98.8% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,660 shares of the semiconductor company’s stock worth $151,000 after buying an additional 825 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new position in shares of Analog Devices in the 1st quarter worth $173,000. Institutional investors and hedge funds own 88.30% of the company’s stock.
A number of brokerages recently commented on ADI. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a report on Friday. B. Riley decreased their target price on Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James raised their target price on Analog Devices from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Stifel Nicolaus raised their target price on Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $104.71.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.07. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. analysts predict that Analog Devices, Inc. will post 5.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.92 dividend on an annualized basis and a yield of 1.94%. Analog Devices’s dividend payout ratio is presently 40.68%.
Analog Devices declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, SVP Margaret K. Seif sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $100.01, for a total transaction of $500,050.00. Following the completion of the transaction, the senior vice president now owns 25,517 shares in the company, valued at $2,551,955.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $96.89, for a total value of $968,900.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,050 shares of company stock worth $7,712,311. Insiders own 1.10% of the company’s stock.
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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