Analog Devices, Inc. (ADI) Stake Lowered by Gratus Capital LLC
Gratus Capital LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 50.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,843 shares of the semiconductor company’s stock after selling 9,996 shares during the period. Gratus Capital LLC’s holdings in Analog Devices were worth $766,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Analog Devices by 2.6% in the second quarter. Principal Financial Group Inc. now owns 567,261 shares of the semiconductor company’s stock valued at $44,133,000 after buying an additional 14,168 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Analog Devices by 11.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,628 shares of the semiconductor company’s stock valued at $286,000 after buying an additional 361 shares during the last quarter. Keybank National Association OH increased its position in shares of Analog Devices by 14.2% in the second quarter. Keybank National Association OH now owns 18,001 shares of the semiconductor company’s stock valued at $1,400,000 after buying an additional 2,235 shares during the last quarter. Capital Analysts LLC bought a new position in shares of Analog Devices during the second quarter valued at approximately $1,174,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Analog Devices during the second quarter valued at approximately $887,000. 86.88% of the stock is owned by institutional investors.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 83.72 on Thursday. The firm has a 50-day moving average of $79.22 and a 200-day moving average of $79.94. The firm has a market capitalization of $30.73 billion, a PE ratio of 32.06 and a beta of 1.30. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 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 64.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. Equities analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. Analog Devices’s payout ratio is currently 67.92%.
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Several equities analysts recently commented on ADI shares. Morgan Stanley reissued an “overweight” rating and issued a $93.00 price objective on shares of Analog Devices in a research note on Tuesday, May 9th. Zacks Investment Research downgraded shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Monday, May 22nd. Credit Suisse Group reissued a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Friday, May 26th. Finally, B. Riley reissued a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a research note on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $90.04.
In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $80.35, for a total value of $241,050.00. Following the transaction, the senior vice president now owns 20,404 shares in the company, valued at $1,639,461.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Evans bought 14,000 shares of the business’s stock in a transaction on Friday, July 7th. The stock was bought at an average price of $78.28 per share, for a total transaction of $1,095,920.00. Following the purchase, the director now directly owns 67,540 shares of the company’s stock, valued at $5,287,031.20. The disclosure for this purchase can be found here. Insiders sold 13,586 shares of company stock valued at $1,082,574 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
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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