Rafferty Asset Management LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 102.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 104,014 shares of the semiconductor company’s stock after buying an additional 52,748 shares during the period. Rafferty Asset Management LLC’s holdings in Analog Devices were worth $8,524,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its stake in Analog Devices by 19.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 11,742 shares of the semiconductor company’s stock valued at $962,000 after buying an additional 1,952 shares during the period. BB&T Securities LLC increased its stake in Analog Devices by 22.1% in the first quarter. BB&T Securities LLC now owns 40,453 shares of the semiconductor company’s stock valued at $3,315,000 after buying an additional 7,323 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Analog Devices by 3,988.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 52,003 shares of the semiconductor company’s stock valued at $4,262,000 after buying an additional 50,731 shares during the period. AXA increased its stake in Analog Devices by 72.3% in the first quarter. AXA now owns 197,574 shares of the semiconductor company’s stock valued at $16,192,000 after buying an additional 82,874 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Analog Devices by 26.2% in the first quarter. Alliancebernstein L.P. now owns 660,206 shares of the semiconductor company’s stock valued at $54,104,000 after buying an additional 137,229 shares during the period. 87.99% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

Shares of Analog Devices, Inc. (NASDAQ:ADI) traded up 0.36% during mid-day trading on Friday, hitting $80.04. The stock had a trading volume of 5,700,640 shares. The company has a 50-day moving average of $79.85 and a 200 day moving average of $77.93. The firm has a market cap of $29.38 billion, a price-to-earnings ratio of 30.65 and a beta of 1.27. Analog Devices, Inc. has a one year low of $52.17 and a one year high of $90.49.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business earned $0.64 EPS. The business’s quarterly revenue was up 41.2% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Friday, June 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Wednesday, June 7th. Analog Devices’s payout ratio is 67.92%.

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A number of brokerages recently issued reports on ADI. BMO Capital Markets reissued a “buy” rating and set a $96.00 price target on shares of Analog Devices in a report on Friday, March 31st. Credit Suisse Group began coverage on shares of Analog Devices in a report on Tuesday, March 14th. They set an “outperform” rating and a $100.00 price target on the stock. Raymond James Financial, Inc. initiated coverage on shares of Analog Devices in a report on Friday. They set a “market perform” rating on the stock. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $90.00 price objective (up from $87.00) on shares of Analog Devices in a research report on Thursday, June 1st. Finally, B. Riley restated a “buy” rating and set a $89.00 price objective on shares of Analog Devices in a research report on Saturday, February 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $88.67.

In related news, CAO Eileen Wynne sold 5,945 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $75.96, for a total value of $451,582.20. Following the transaction, the chief accounting officer now directly owns 3,305 shares of the company’s stock, valued at approximately $251,047.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 47,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the completion of the transaction, the chief executive officer now directly owns 61,484 shares in the company, valued at $5,318,366. The disclosure for this sale can be found here. Insiders sold a total of 115,426 shares of company stock worth $9,612,861 over the last three months. 1.10% of the stock is owned by company insiders.

About Analog Devices

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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