Capital One National Association Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)
Capital One National Association lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,776 shares of the semiconductor company’s stock after selling 1,184 shares during the period. Capital One National Association’s holdings in Analog Devices were worth $216,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares during the period. BlackRock Inc. boosted its position in Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock worth $1,888,562,000 after buying an additional 22,366,040 shares during the period. Wellington Management Group LLP boosted its position in Analog Devices by 14.4% in the first quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock worth $1,514,372,000 after buying an additional 2,319,193 shares during the period. State Street Corp boosted its position in Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock worth $1,225,852,000 after buying an additional 2,493,568 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Analog Devices by 8.4% in the first quarter. Wells Fargo & Company MN now owns 7,957,053 shares of the semiconductor company’s stock worth $652,081,000 after buying an additional 614,150 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 81.14 on Wednesday. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49. The stock has a market cap of $29.78 billion, a price-to-earnings ratio of 31.08 and a beta of 1.30. The stock’s 50 day moving average is $80.13 and its 200 day moving average is $79.03.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts forecast that Analog Devices, Inc. will post $4.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Friday, June 9th were given a dividend of $0.45 per share. 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 2.22%. Analog Devices’s dividend payout ratio (DPR) is 67.92%.
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A number of equities analysts have recently issued reports on ADI shares. BMO Capital Markets reissued a “buy” rating and set a $96.00 price objective on shares of Analog Devices in a research report on Friday, March 31st. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. Raymond James Financial, Inc. started coverage on shares of Analog Devices in a research report on Friday, June 16th. They set a “market perform” rating on the stock. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $90.00 price objective (up previously from $87.00) on shares of Analog Devices in a research report on Thursday, June 1st. Finally, B. Riley reissued a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $88.86.
In other Analog Devices news, CEO Vincent Roche sold 47,500 shares of the company’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 transaction of $4,108,750.00. Following the completion of the sale, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at $5,318,366. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Peter Real sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $80.00, for a total transaction of $240,000.00. Following the sale, the senior vice president now directly owns 12,026 shares of the company’s stock, valued at $962,080. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,581 shares of company stock worth $5,073,308. 1.10% of the stock is 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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