Analog Devices, Inc. (ADI) Stake Cut by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.3% during the first quarter, Holdings Channel reports. The institutional investor owned 377,948 shares of the semiconductor company’s stock after selling 29,612 shares during the period. Thrivent Financial For Lutherans’ holdings in Analog Devices were worth $30,973,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. YorkBridge Wealth Partners LLC increased its stake in Analog Devices by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,753 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 11 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in Analog Devices by 1.5% in the first quarter. Peapack Gladstone Financial Corp now owns 3,095 shares of the semiconductor company’s stock valued at $254,000 after buying an additional 45 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Analog Devices by 1.3% in the first quarter. Sunbelt Securities Inc. now owns 3,639 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 48 shares in the last quarter. Madison Investment Holdings Inc. increased its stake in Analog Devices by 0.6% in the first quarter. Madison Investment Holdings Inc. now owns 10,902 shares of the semiconductor company’s stock valued at $893,000 after buying an additional 61 shares in the last quarter. Finally, Catawba Capital Management VA increased its stake in Analog Devices by 3.0% in the first quarter. Catawba Capital Management VA now owns 4,011 shares of the semiconductor company’s stock valued at $329,000 after buying an additional 116 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.
Shares of Analog Devices, Inc. (ADI) opened at 81.55 on Monday. Analog Devices, Inc. has a 52 week low of $52.17 and a 52 week high of $90.49. The company has a market cap of $29.93 billion, a price-to-earnings ratio of 31.23 and a beta of 1.27. The firm’s 50-day moving average is $80.06 and its 200-day moving average is $78.13.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.18. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts predict that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. Analog Devices’s dividend payout ratio (DPR) is 67.92%.
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Several research firms recently commented on ADI. B. Riley reiterated a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research report on Wednesday, March 22nd. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target on shares of Analog Devices in a research report on Monday, March 13th. Stephens upgraded shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Jefferies Group LLC restated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Monday, May 22nd. Finally, Raymond James Financial, Inc. started coverage on shares of Analog Devices in a research report on Friday, June 16th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Analog Devices has a consensus rating of “Buy” and an average target price of $88.67.
In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $80.28, for a total value of $240,840.00. Following the completion of the transaction, the senior vice president now owns 20,404 shares in the company, valued at $1,638,033.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Martin Cotter sold 2,000 shares of the stock in a transaction on Friday, April 7th. The stock was sold at an average price of $80.04, for a total value of $160,080.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,526 shares of company stock valued at $5,684,971. 1.10% of the stock is owned by corporate 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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