Bank of The West Buys Shares of 17,182 Analog Devices, Inc. (NASDAQ:ADI)
Bank of The West acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,182 shares of the semiconductor company’s stock, valued at approximately $1,337,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new stake in Analog Devices during the first quarter worth $100,000. Jacobus Wealth Management Inc. purchased a new stake in Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co purchased a new stake in Analog Devices during the first quarter valued at approximately $114,000. Guardian Life Insurance Co. of America raised its stake in 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 buying an additional 223 shares during the last quarter. Finally, Financial Architects Inc raised its stake in Analog Devices by 291.6% in the first quarter. Financial Architects Inc now owns 1,547 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 1,152 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 81.55 on Monday. The firm’s 50-day moving average price is $80.68 and its 200-day moving average price is $78.42. Analog Devices, Inc. has a 52-week low of $59.01 and a 52-week high of $90.49. The stock has a market capitalization of $29.93 billion, a P/E ratio of 31.23 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Equities analysts forecast that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Friday, June 9th were given a $0.45 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. Analog Devices’s dividend payout ratio (DPR) is presently 67.92%.
Several analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $97.00 price target (up from $95.00) on shares of Analog Devices in a research report on Thursday, June 1st. Instinet lowered shares of Analog Devices from a “neutral” rating to a “reduce” rating and decreased their price target for the company from $82.00 to $72.00 in a research report on Friday, June 2nd. Morgan Stanley reissued an “overweight” rating and set a $96.00 price target (up from $93.00) on shares of Analog Devices in a research report on Thursday, June 1st. Deutsche Bank AG reissued a “hold” rating and set a $84.00 price target (up from $80.00) on shares of Analog Devices in a research report on Thursday, June 1st. Finally, Stephens raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Analog Devices presently has an average rating of “Buy” and a consensus price target of $88.86.
In other news, CAO Eileen Wynne sold 5,945 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 3,305 shares of the company’s stock, valued at $251,047.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $77.52, for a total value of $232,560.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,581,718.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,526 shares of company stock valued at $5,524,891. 1.10% of the stock is currently owned by 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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