Laurel Wealth Advisors Inc. purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,788 shares of the semiconductor company’s stock, valued at approximately $248,000.
Other institutional investors also recently made changes to their positions in the company. Sit Investment Associates Inc. grew its holdings in Analog Devices by 381.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,275 shares of the semiconductor company’s stock worth $114,000 after buying an additional 1,010 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in Analog Devices during the fourth quarter worth $121,000. Cerebellum GP LLC bought a new stake in Analog Devices during the fourth quarter worth $130,000. Fieldpoint Private Securities LLC grew its holdings in Analog Devices by 91.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock worth $127,000 after buying an additional 705 shares in the last quarter. Finally, Clear Perspective Advisors LLC grew its holdings in Analog Devices by 3,884.2% during the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock worth $130,000 after buying an additional 1,476 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.
Several brokerages recently issued reports on ADI. Zacks Investment Research downgraded Analog Devices from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Deutsche Bank boosted their price objective on Analog Devices from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Thursday, March 1st. Nomura boosted their price objective on Analog Devices from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 1st. Argus boosted their price objective on Analog Devices from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 1st. They noted that the move was a valuation call. Finally, KeyCorp boosted their price objective on Analog Devices from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, March 1st. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Analog Devices currently has an average rating of “Buy” and an average target price of $100.57.
Analog Devices, Inc. (NASDAQ ADI) opened at $94.15 on Friday. Analog Devices, Inc. has a 1 year low of $74.65 and a 1 year high of $98.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.31 and a current ratio of 1.76. The company has a market capitalization of $34,739.35, a price-to-earnings ratio of 45.05, a PEG ratio of 1.41 and a beta of 1.25.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 54.4% compared to the same quarter last year. sell-side analysts forecast that Analog Devices, Inc. will post 5.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Friday, March 9th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, March 8th. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. Analog Devices’s dividend payout ratio is currently 91.87%.
In related news, Director Ray Stata sold 10,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $90.22, for a total transaction of $902,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Margaret K. Seif sold 7,000 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $88.83, for a total value of $621,810.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,218 shares of company stock worth $5,989,124 in the last ninety days. Insiders own 1.10% of the company’s stock.
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Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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