Horseman Capital Management Ltd Acquires Shares of 18,000 Analog Devices, Inc. (ADI)
Horseman Capital Management Ltd acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,000 shares of the semiconductor company’s stock, valued at approximately $1,400,000.
Several other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Analog Devices during the first quarter valued at approximately $100,000. Whittier Trust Co. of Nevada Inc. increased its position in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares during the period. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co bought a new position in Analog Devices during the first quarter valued at approximately $114,000. Finally, Guardian Life Insurance Co. of America increased its position 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 period. Institutional investors own 86.88% of the company’s stock.
Analog Devices, Inc. (ADI) traded up 0.82% during trading on Friday, hitting $84.36. The stock had a trading volume of 684,882 shares. Analog Devices, Inc. has a 1-year low of $59.01 and a 1-year high of $90.49. The firm has a market capitalization of $30.96 billion, a PE ratio of 32.31 and a beta of 1.30. The firm has a 50 day moving average price of $79.47 and a 200-day moving average price of $80.08.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted $0.82 EPS. Analog Devices’s quarterly revenue was up 64.9% compared to the same quarter last year. On average, equities research analysts expect that Analog Devices, Inc. will post $4.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.15%. Analog Devices’s dividend payout ratio is 86.12%.
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Several equities analysts recently commented on the company. Citigroup Inc. restated a “neutral” rating and set a $88.00 target price (down previously from $91.00) on shares of Analog Devices in a research report on Friday. Robert W. Baird reaffirmed an “outperform” rating and set a $100.00 price target (up from $98.00) on shares of Analog Devices in a report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and set a $96.00 price target on shares of Analog Devices in a report on Thursday. Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 price target on shares of Analog Devices in a report on Wednesday. Finally, Instinet raised Analog Devices from a “reduce” rating to a “neutral” rating and raised their price target for the company from $72.50 to $80.00 in a report on Thursday. Twelve research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Analog Devices currently has a consensus rating of “Buy” and a consensus price target of $91.85.
In related news, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $80.07, for a total value of $360,715.35. Following the completion of the transaction, the senior vice president now directly owns 13,531 shares in the company, valued at approximately $1,083,427.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total transaction of $240,840.00. Following the completion of the transaction, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,638,033.12. The disclosure for this sale can be found here. Insiders sold a total of 18,091 shares of company stock valued at $1,452,569 over the last quarter. 1.10% of the stock is owned by company insiders.
Analog Devices Company Profile
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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