Oribel Capital Management LP Invests $9.08 Million in Analog Devices, Inc. (ADI) Stock
Oribel Capital Management LP purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 105,400 shares of the semiconductor company’s stock, valued at approximately $9,082,000. Analog Devices accounts for about 1.9% of Oribel Capital Management LP’s investment portfolio, making the stock its 19th largest position.
A number of other institutional investors also recently made changes to their positions in the business. Boothbay Fund Management LLC purchased a new position in Analog Devices in the 3rd quarter worth approximately $2,111,000. Taurus Asset Management LLC increased its stake in Analog Devices by 18.9% in the 3rd quarter. Taurus Asset Management LLC now owns 175,440 shares of the semiconductor company’s stock worth $15,118,000 after purchasing an additional 27,905 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Analog Devices by 8.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 131,434 shares of the semiconductor company’s stock worth $11,325,000 after buying an additional 10,673 shares during the last quarter. First Republic Investment Management Inc. grew its position in shares of Analog Devices by 7.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 38,979 shares of the semiconductor company’s stock worth $3,358,000 after buying an additional 2,704 shares during the last quarter. Finally, L & S Advisors Inc grew its position in shares of Analog Devices by 43.6% in the 3rd quarter. L & S Advisors Inc now owns 80,920 shares of the semiconductor company’s stock worth $6,973,000 after buying an additional 24,552 shares during the last quarter. 87.08% of the stock is currently owned by institutional investors and hedge funds.
ADI has been the topic of a number of recent analyst reports. BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. B. Riley reiterated a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a research report on Thursday, August 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $100.00 price objective (up from $96.00) on shares of Analog Devices in a research report on Tuesday, August 29th. Royal Bank Of Canada lifted their price objective on Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Finally, Nomura upgraded Analog Devices from a “reduce” rating to a “neutral” rating and lifted their price objective for the stock from $72.50 to $80.00 in a research report on Thursday, August 31st. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $96.04.
In other Analog Devices news, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $83.52, for a total transaction of $376,257.60. Following the completion of the transaction, the senior vice president now owns 13,531 shares in the company, valued at $1,130,109.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 100,000 shares of Analog Devices stock in a transaction on Monday, December 4th. The shares were sold at an average price of $85.17, for a total value of $8,517,000.00. The disclosure for this sale can be found here. Insiders have sold 219,256 shares of company stock worth $18,796,594 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at $86.11 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.47. Analog Devices, Inc. has a 1 year low of $71.00 and a 1 year high of $93.99. The firm has a market capitalization of $31,740.00, a P/E ratio of 18.13, a P/E/G ratio of 1.57 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.09. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The firm’s revenue was up 53.4% on a year-over-year basis. research analysts predict that Analog Devices, Inc. will post 5.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.09%. Analog Devices’s dividend payout ratio is presently 90.91%.
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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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