Gateway Investment Advisers LLC Raises Position in Analog Devices, Inc. (NASDAQ:ADI)
Gateway Investment Advisers LLC raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 401,641 shares of the semiconductor company’s stock after buying an additional 1,076 shares during the period. Gateway Investment Advisers LLC’s holdings in Analog Devices were worth $31,248,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Quadrature Capital Ltd increased its stake in Analog Devices by 8.8% in the fourth quarter. Quadrature Capital Ltd now owns 40,730 shares of the semiconductor company’s stock worth $2,958,000 after buying an additional 3,278 shares during the period. USA Financial Portformulas Corp acquired a new stake in Analog Devices during the fourth quarter worth approximately $7,926,000. Kentucky Retirement Systems acquired a new stake in Analog Devices during the fourth quarter worth approximately $1,624,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Analog Devices during the fourth quarter worth approximately $725,000. Finally, Highbridge Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth approximately $4,324,000. 87.33% of the stock is owned by institutional investors.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 81.55 on Monday. The stock’s 50 day moving average price is $80.68 and its 200-day moving average price is $78.42. Analog Devices, Inc. has a one year low of $59.01 and a one year high of $90.49. The stock has a market cap of $29.93 billion, a PE 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 for the quarter, topping the consensus estimate of $0.85 by $0.18. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm posted $0.64 EPS. The business’s revenue was up 41.2% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Friday, June 9th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Wednesday, June 7th. Analog Devices’s dividend payout ratio is 67.92%.
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Several research analysts have recently issued reports on the company. Jefferies Group LLC lifted their price target on Analog Devices to $100.00 and gave the stock a “buy” rating in a research note on Monday, March 20th. B. Riley reaffirmed a “buy” rating and set a $103.00 price target on shares of Analog Devices in a research note on Wednesday, March 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 price target on shares of Analog Devices in a research note on Friday, March 31st. Stephens raised Analog Devices from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $93.00 price target on shares of Analog Devices in a research note on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $88.86.
In other news, CAO Eileen Wynne sold 5,945 shares of the stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $75.96, for a total transaction of $451,582.20. Following the transaction, the chief accounting officer now owns 3,305 shares of the company’s stock, valued at approximately $251,047.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Evans acquired 14,000 shares of the stock in a transaction dated Friday, July 7th. The shares were bought at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the acquisition, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The disclosure for this purchase can be found here. In the last three months, insiders have sold 65,526 shares of company stock worth $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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