Analog Devices, Inc. (ADI) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,137,165 shares of the semiconductor company’s stock after acquiring an additional 152,742 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.31% of Analog Devices worth $88,475,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new stake in shares of Analog Devices in the first quarter valued at approximately $100,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 475 shares in the last quarter. Jacobus Wealth Management Inc. purchased a new stake in shares of Analog Devices in the first quarter valued at approximately $113,000. Guardian Life Insurance Co. of America grew its position in shares of Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 223 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Analog Devices in the second quarter valued at approximately $119,000. 86.67% of the stock is owned by institutional investors and hedge funds.
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Several research analysts recently weighed in on the company. Royal Bank Of Canada increased their price objective on Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. BidaskClub upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 price objective on shares of Analog Devices in a research report on Wednesday, August 30th. Morgan Stanley reiterated an “overweight” rating and issued a $96.00 price objective on shares of Analog Devices in a research report on Thursday, August 31st. Finally, Nomura upgraded Analog Devices from a “reduce” rating to a “neutral” rating and increased their price objective for the stock from $72.50 to $80.00 in a research report on Thursday, August 31st. Twelve analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Analog Devices presently has an average rating of “Buy” and a consensus price target of $92.12.
Analog Devices, Inc. (NASDAQ:ADI) opened at 87.89 on Friday. The firm’s 50 day moving average price is $82.69 and its 200 day moving average price is $80.38. Analog Devices, Inc. has a one year low of $59.54 and a one year high of $90.49. The stock has a market cap of $32.31 billion, a price-to-earnings ratio of 43.75 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company’s revenue for the quarter was up 64.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 EPS. Equities analysts forecast that Analog Devices, Inc. will post $4.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th were paid a $0.45 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.05%. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.
In related news, Director Ray Stata sold 25,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the sale, the director now owns 234,481 shares in the company, valued at $19,579,163.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $80.35, for a total transaction of $241,050.00. Following the sale, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,639,461.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,494 shares of company stock worth $9,355,681. Company insiders own 1.10% of the company’s stock.
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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