Nomura Asset Management Co. Ltd. lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 92.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,762 shares of the semiconductor company’s stock after acquiring an additional 65,209 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Analog Devices were worth $11,699,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Clear Perspective Advisors LLC raised its holdings in Analog Devices by 3,884.2% in the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 1,476 shares in the last quarter. Synovus Financial Corp raised its holdings in Analog Devices by 18.2% in the third quarter. Synovus Financial Corp now owns 6,746 shares of the semiconductor company’s stock worth $584,000 after purchasing an additional 1,039 shares in the last quarter. Argent Trust Co bought a new position in Analog Devices in the third quarter worth about $329,000. Financial Counselors Inc. raised its holdings in Analog Devices by 14.2% in the third quarter. Financial Counselors Inc. now owns 34,099 shares of the semiconductor company’s stock worth $2,938,000 after purchasing an additional 4,228 shares in the last quarter. Finally, Dearborn Partners LLC raised its holdings in Analog Devices by 0.9% in the third quarter. Dearborn Partners LLC now owns 77,697 shares of the semiconductor company’s stock worth $6,695,000 after purchasing an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at $84.83 on Wednesday. The company has a market capitalization of $31,256.63, a P/E ratio of 18.12, a P/E/G ratio of 1.57 and a beta of 1.29. Analog Devices, Inc. has a 52-week low of $70.26 and a 52-week high of $93.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.13.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.09. The firm had revenue of $1.54 billion for 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%. Analog Devices’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 earnings per share. equities analysts expect that Analog Devices, Inc. will post 5.2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.12%. Analog Devices’s dividend payout ratio is currently 86.96%.
In related news, SVP Jean Philibert sold 5,098 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $90.24, for a total value of $460,043.52. Following the sale, the senior vice president now owns 5,098 shares in the company, valued at $460,043.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $83.50, for a total value of $2,087,500.00. Following the completion of the sale, the director now owns 234,481 shares in the company, valued at approximately $19,579,163.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,256 shares of company stock worth $18,204,884. 1.10% of the stock is owned by insiders.
A number of equities analysts have commented on ADI shares. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 target price on shares of Analog Devices in a report on Wednesday, August 30th. B. Riley reiterated a “buy” rating and issued a $110.00 target price on shares of Analog Devices in a report on Sunday, August 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $97.00 target price on shares of Analog Devices in a report on Monday, September 25th. Finally, Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Tuesday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Analog Devices currently has a consensus rating of “Buy” and an average price target of $96.04.
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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