MUFG Americas Holdings Corp raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 24.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,989 shares of the semiconductor company’s stock after buying an additional 35,909 shares during the period. MUFG Americas Holdings Corp owned 0.06% of Analog Devices worth $14,832,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Salem Investment Counselors Inc. bought a new stake in shares of Analog Devices during the third quarter worth about $7,895,000. Financial Architects Inc raised its stake in shares of Analog Devices by 291.6% in the first quarter. Financial Architects Inc now owns 1,547 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,152 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of Analog Devices during the fourth quarter worth about $115,000. Manchester Capital Management LLC raised its stake in shares of Analog Devices by 29.9% in the first quarter. Manchester Capital Management LLC now owns 2,166 shares of the semiconductor company’s stock worth $178,000 after buying an additional 498 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of Analog Devices by 7.5% in the first quarter. CENTRAL TRUST Co now owns 2,333 shares of the semiconductor company’s stock worth $191,000 after buying an additional 162 shares in the last quarter. 90.38% of the stock is owned by hedge funds and other institutional investors.
Analog Devices, Inc. (NASDAQ ADI) opened at 78.75 on Tuesday. The company has a 50-day moving average price of $79.22 and a 200 day moving average price of $77.51. Analog Devices, Inc. has a 1-year low of $52.17 and a 1-year high of $90.49. The firm has a market capitalization of $24.35 billion, a P/E ratio of 26.86 and a beta of 1.19.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.18. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Analog Devices’s revenue for the quarter was up 41.2% compared to the same quarter last year. Analysts expect that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year. The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, June 7th. Analog Devices’s payout ratio is currently 60.87%.
Several analysts recently weighed in on ADI shares. Zacks Investment Research upgraded Analog Devices from a “sell” rating to a “hold” rating in a report on Tuesday, February 7th. B. Riley restated a “buy” rating and issued a $87.00 price objective on shares of Analog Devices in a report on Monday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 price objective on shares of Analog Devices in a report on Wednesday, February 15th. Wells Fargo & Co downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating in a report on Thursday, February 16th. Finally, Jefferies Group LLC boosted their target price on shares of Analog Devices from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $88.67. In related news, Director Neil S. Novich sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $82.69, for a total value of $1,240,350.00. Following the sale, the director now directly owns 35,285 shares in the company, valued at approximately $2,917,716.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Champy sold 1,850 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $83.23, for a total value of $153,975.50. Following the completion of the sale, the director now owns 15,185 shares in the company, valued at $1,263,847.55. The disclosure for this sale can be found here. Insiders have sold 182,195 shares of company stock worth $15,165,148 in the last 90 days. 1.10% of the stock is currently owned by insiders.
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