Cubist Systematic Strategies LLC Sells 83,797 Shares of Analog Devices, Inc. (ADI)
Cubist Systematic Strategies LLC trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 89.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,371 shares of the semiconductor company’s stock after selling 83,797 shares during the period. Cubist Systematic Strategies LLC’s holdings in Analog Devices were worth $807,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Carret Asset Management LLC purchased a new position in shares of Analog Devices during the second quarter valued at approximately $1,116,000. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Analog Devices by 27.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 93,591 shares of the semiconductor company’s stock valued at $7,280,000 after purchasing an additional 20,141 shares during the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of Analog Devices by 9.2% during the second quarter. Peapack Gladstone Financial Corp now owns 3,380 shares of the semiconductor company’s stock valued at $263,000 after purchasing an additional 285 shares during the last quarter. FTB Advisors Inc. lifted its holdings in shares of Analog Devices by 369.2% during the second quarter. FTB Advisors Inc. now owns 26,061 shares of the semiconductor company’s stock valued at $2,030,000 after purchasing an additional 20,507 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Analog Devices by 576.1% during the second quarter. Janus Henderson Group PLC now owns 1,785,372 shares of the semiconductor company’s stock valued at $138,903,000 after purchasing an additional 1,521,316 shares during the last quarter. Hedge funds and other institutional investors own 86.59% of the company’s stock.
In related news, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the sale, the director now owns 234,481 shares in the company, valued at $19,579,163.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $77.81, for a total transaction of $233,430.00. Following the sale, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,587,635.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,494 shares of company stock worth $10,677,931. 1.10% of the stock is owned by company insiders.
Shares of Analog Devices, Inc. (ADI) opened at 88.83 on Tuesday. The stock’s 50 day moving average is $84.55 and its 200-day moving average is $80.64. The company has a market cap of $32.66 billion, a P/E ratio of 44.22 and a beta of 1.30. Analog Devices, Inc. has a 12 month low of $61.27 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, topping the Zacks’ consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The business’s quarterly revenue was up 64.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts forecast that Analog Devices, Inc. will post $4.62 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Friday, September 8th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.80 annualized dividend and a yield of 2.03%. Analog Devices’s dividend payout ratio is presently 86.12%.
ADI has been the subject of several recent research reports. B. Riley reiterated a “buy” rating and set a $103.00 target price on shares of Analog Devices in a report on Wednesday, June 21st. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 price target on shares of Analog Devices in a research report on Friday, August 4th. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $100.00 price target (up previously from $96.00) on shares of Analog Devices in a research report on Tuesday, August 29th. Eleven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and an average target price of $92.85.
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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