Guardian Capital LP Cuts Stake in Analog Devices, Inc. (ADI)

Guardian Capital LP lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 166,172 shares of the semiconductor company’s stock after selling 6,877 shares during the period. Guardian Capital LP’s holdings in Analog Devices were worth $14,319,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Franklin Resources Inc. increased its stake 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. Janus Henderson Group PLC increased its stake in Analog Devices by 576.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,785,372 shares of the semiconductor company’s stock worth $138,903,000 after buying an additional 1,521,316 shares during the period. BlackRock Inc. increased its stake 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. Prudential PLC increased its stake in Analog Devices by 23,301.9% during the 2nd quarter. Prudential PLC now owns 1,304,189 shares of the semiconductor company’s stock worth $101,466,000 after buying an additional 1,298,616 shares during the period. Finally, FMR LLC increased its stake in Analog Devices by 14.6% during the 2nd quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock worth $691,608,000 after buying an additional 1,132,549 shares during the period. 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. Analog Devices, Inc. has a fifty-two week low of $71.00 and a fifty-two 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. The company has a market cap of $31,525.73, a PE ratio of 18.27, a PEG ratio of 1.58 and a beta of 1.29.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was up 53.4% on a year-over-year basis. analysts anticipate that Analog Devices, Inc. will post 5.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, November 30th. Analog Devices’s dividend payout ratio (DPR) is presently 86.96%.

ADI has been the topic of several analyst reports. BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 price target on shares of Analog Devices in a research note on Wednesday, August 30th. B. Riley reaffirmed a “buy” rating and set a $110.00 price target on shares of Analog Devices in a research note on Sunday, August 27th. Stifel Nicolaus reissued a “buy” rating and issued a $97.00 target price on shares of Analog Devices in a research report on Monday, September 25th. Finally, Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Tuesday, October 10th. Eleven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $96.04.

In other Analog Devices news, Director Ray Stata sold 25,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the transaction, the director now directly owns 234,481 shares of the company’s stock, valued at approximately $19,579,163.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Margaret K. Seif sold 7,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $84.53, for a total transaction of $591,710.00. Following the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,724,750.12. The disclosure for this sale can be found here. Insiders sold a total of 219,256 shares of company stock valued at $18,796,594 over the last ninety days. Company insiders own 1.10% of the company’s stock.

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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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