Oppenheimer & Co. Inc. decreased its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,618 shares of the semiconductor company's stock after selling 6,399 shares during the period. Oppenheimer & Co. Inc.'s holdings in Analog Devices were worth $9,401,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Brighton Jones LLC boosted its position in Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after buying an additional 529 shares during the last quarter. Pinnacle Financial Partners Inc lifted its stake in shares of Analog Devices by 10.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 4,380 shares of the semiconductor company's stock worth $936,000 after acquiring an additional 432 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Analog Devices by 9.5% in the fourth quarter. First Horizon Advisors Inc. now owns 5,337 shares of the semiconductor company's stock valued at $1,134,000 after purchasing an additional 463 shares during the last quarter. TCW Group Inc. grew its stake in Analog Devices by 4.4% during the 4th quarter. TCW Group Inc. now owns 16,109 shares of the semiconductor company's stock valued at $3,423,000 after purchasing an additional 673 shares in the last quarter. Finally, MONECO Advisors LLC grew its stake in Analog Devices by 16.5% during the 4th quarter. MONECO Advisors LLC now owns 2,120 shares of the semiconductor company's stock valued at $450,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.
Insider Buying and Selling at Analog Devices
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the transaction, the chief executive officer now owns 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director now directly owns 180,071 shares of the company's stock, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $3,143,556 in the last ninety days. Company insiders own 0.33% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on ADI shares. Benchmark reaffirmed a "buy" rating and issued a $260.00 target price (down from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Morgan Stanley dropped their price target on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. Finally, Wells Fargo & Company set a $235.00 target price on shares of Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $251.75.
Read Our Latest Stock Analysis on ADI
Analog Devices Stock Performance
Shares of NASDAQ ADI traded down $0.30 during mid-day trading on Wednesday, hitting $234.68. The company had a trading volume of 3,548,623 shares, compared to its average volume of 3,576,557. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The stock has a market cap of $116.46 billion, a price-to-earnings ratio of 63.95, a PEG ratio of 2.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The firm's 50 day simple moving average is $212.88 and its two-hundred day simple moving average is $211.48.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.40 earnings per share. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.
Analog Devices Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.69%. Analog Devices's dividend payout ratio is presently 107.90%.
Analog Devices Profile
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Free Report)
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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