Zions Bancorporation Buys 1,571 Shares of Analog Devices, Inc. (ADI)
Zions Bancorporation raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 262.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,169 shares of the semiconductor company’s stock after acquiring an additional 1,571 shares during the quarter. Zions Bancorporation’s holdings in Analog Devices were worth $187,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wedbush Securities Inc. boosted its position in shares of Analog Devices by 29.4% in the 2nd quarter. Wedbush Securities Inc. now owns 5,962 shares of the semiconductor company’s stock worth $464,000 after purchasing an additional 1,353 shares in the last quarter. Pitcairn Co. boosted its position in shares of Analog Devices by 0.6% in the 2nd quarter. Pitcairn Co. now owns 4,719 shares of the semiconductor company’s stock worth $367,000 after purchasing an additional 30 shares in the last quarter. Dupont Capital Management Corp boosted its position in shares of Analog Devices by 34.2% in the 2nd quarter. Dupont Capital Management Corp now owns 14,481 shares of the semiconductor company’s stock worth $1,127,000 after purchasing an additional 3,690 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Analog Devices in the 2nd quarter worth $958,000. Finally, State of Wisconsin Investment Board boosted its position in shares of Analog Devices by 7.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 432,949 shares of the semiconductor company’s stock worth $33,683,000 after purchasing an additional 31,035 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices, Inc. (NASDAQ:ADI) opened at $85.48 on Wednesday. The firm has a market capitalization of $31,525.73, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29. Analog Devices, Inc. has a 52 week low of $71.00 and a 52 week high of $93.99. 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 (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.09. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The company’s revenue was up 53.4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. equities research analysts expect that Analog Devices, Inc. will post 5.2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.11%. Analog Devices’s payout ratio is currently 86.96%.
In related news, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $83.52, for a total value of $376,257.60. Following the completion of the transaction, the senior vice president now owns 13,531 shares in the company, valued at approximately $1,130,109.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 100,000 shares of Analog Devices stock in a transaction dated 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 a total of 219,256 shares of company stock valued at $18,796,594 in the last quarter. Company insiders own 1.10% of the company’s stock.
A number of analysts have recently weighed in on ADI shares. Jefferies Group raised their price objective on Analog Devices to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Stifel Nicolaus lowered their price objective on Analog Devices from $100.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, November 22nd. B. Riley raised their target price on Analog Devices from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Citigroup restated a “neutral” rating and issued a $88.00 target price (down previously from $91.00) on shares of Analog Devices in a research note on Friday, September 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $103.00 target price (up previously from $98.00) on shares of Analog Devices in a research note on Wednesday, November 22nd. 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. Analog Devices presently has an average rating of “Buy” and a consensus target price of $96.04.
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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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