Van ECK Associates Corp decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 292,588 shares of the semiconductor company’s stock after selling 80,090 shares during the period. Van ECK Associates Corp owned approximately 0.08% of Analog Devices worth $22,763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Analog Devices by 24.3% during the 1st 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. increased its position in Analog Devices by 6.2% during the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock worth $1,904,749,000 after buying an additional 1,437,338 shares during the period. Wellington Management Group LLP increased its position in Analog Devices by 14.4% during the 1st 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 increased its position in Analog Devices by 20.0% during the 1st 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, Franklin Resources Inc. increased its position in Analog Devices by 54.1% during the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after buying an additional 3,248,336 shares during the period. Hedge funds and other institutional investors own 86.67% of the company’s stock.

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Shares of Analog Devices, Inc. (ADI) opened at 83.40 on Thursday. The stock’s 50 day moving average price is $80.41 and its 200-day moving average price is $80.16. The firm has a market capitalization of $30.66 billion, a price-to-earnings ratio of 41.51 and a beta of 1.29. Analog Devices, Inc. has a 52 week low of $59.54 and a 52 week high of $90.49.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. 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 company earned $0.82 EPS. The firm’s revenue for the quarter was up 64.9% on a year-over-year basis. Equities analysts predict that Analog Devices, Inc. will post $4.62 earnings per share for the current year.

The business also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, September 7th. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.

Several research analysts have weighed in on ADI shares. Bank of America Corporation reiterated a “buy” rating and set a $100.00 price objective (up previously from $92.00) on shares of Analog Devices in a research report on Friday, June 2nd. BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Drexel Hamilton reiterated a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a research report on Wednesday, August 30th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $100.00 price objective (up previously from $90.00) on shares of Analog Devices in a research report on Friday, June 2nd. Finally, Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. Thirteen investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $91.92.

In related news, SVP Peter Real sold 4,505 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $80.07, for a total transaction of $360,715.35. Following the completion of the transaction, the senior vice president now owns 13,531 shares of the company’s stock, valued at approximately $1,083,427.17. The transaction was disclosed in a filing 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 that occurred on Thursday, July 20th. The shares were sold at an average price of $80.35, for a total value of $241,050.00. Following the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,639,461.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,686 shares of company stock valued at $7,758,692. 1.10% of the stock is owned by corporate 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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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