Beacon Pointe Advisors LLC Sells 12,163 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Beacon Pointe Advisors LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 50.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,161 shares of the semiconductor company’s stock after selling 12,163 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Analog Devices were worth $1,775,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ADI. Wellington Management Group LLP increased its stake in shares of Analog Devices by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 9,338,263 shares of the semiconductor company’s stock valued at $1,542,495,000 after buying an additional 1,125,178 shares during the period. Baillie Gifford & Co. increased its stake in shares of Analog Devices by 43.8% in the 2nd quarter. Baillie Gifford & Co. now owns 3,261,278 shares of the semiconductor company’s stock valued at $476,440,000 after buying an additional 994,122 shares during the period. Allen Investment Management LLC acquired a new stake in shares of Analog Devices in the 2nd quarter valued at $124,937,000. AMF Tjanstepension AB increased its stake in shares of Analog Devices by 2,467.5% in the 2nd quarter. AMF Tjanstepension AB now owns 834,947 shares of the semiconductor company’s stock valued at $121,977,000 after buying an additional 802,427 shares during the period. Finally, Egerton Capital UK LLP increased its stake in shares of Analog Devices by 19.5% in the 2nd quarter. Egerton Capital UK LLP now owns 4,455,057 shares of the semiconductor company’s stock valued at $650,839,000 after buying an additional 726,381 shares during the period. Institutional investors own 85.22% of the company’s stock.

Insider Activity

In other news, Director Tunc Doluca sold 1,700 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $160.00, for a total value of $272,000.00. Following the sale, the director now directly owns 68,657 shares in the company, valued at $10,985,120. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group lowered their target price on Analog Devices from $210.00 to $195.00 in a research note on Wednesday. Evercore ISI lifted their target price on Analog Devices from $185.00 to $195.00 in a research note on Wednesday. Robert W. Baird reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Analog Devices in a research note on Friday, August 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on Analog Devices from $155.00 to $170.00 in a research note on Wednesday. Finally, Cowen lifted their price objective on Analog Devices from $180.00 to $190.00 in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $191.65.

Analog Devices Stock Up 0.5 %

NASDAQ:ADI opened at $169.20 on Thursday. The stock has a market cap of $87.03 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 1.38 and a beta of 1.11. The stock has a 50-day moving average price of $147.66 and a two-hundred day moving average price of $154.99. Analog Devices, Inc. has a 1 year low of $133.48 and a 1 year high of $188.20. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADIGet Rating) last issued its quarterly earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.15. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.16 billion. Analog Devices had a return on equity of 11.92% and a net margin of 17.00%. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 earnings per share. As a group, equities analysts expect that Analog Devices, Inc. will post 9.43 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, December 5th will be issued a $0.76 dividend. The ex-dividend date is Friday, December 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.80%. Analog Devices’s dividend payout ratio (DPR) is 83.98%.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

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

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