Teachers Insurance & Annuity Association of America purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,764 shares of the semiconductor company’s stock, valued at approximately $602,000.
Several other institutional investors and hedge funds have also modified their holdings of ADI. Neuberger Berman Group LLC increased its holdings in shares of Analog Devices by 97.4% during the third quarter. Neuberger Berman Group LLC now owns 4,303,569 shares of the semiconductor company’s stock valued at $370,839,000 after purchasing an additional 2,123,268 shares during the period. Boston Partners acquired a new position in shares of Analog Devices during the fourth quarter valued at $67,877,000. American Century Companies Inc. increased its holdings in shares of Analog Devices by 69.9% during the fourth quarter. American Century Companies Inc. now owns 1,683,434 shares of the semiconductor company’s stock valued at $149,876,000 after purchasing an additional 692,814 shares during the period. Alkeon Capital Management LLC increased its holdings in shares of Analog Devices by 25.1% during the third quarter. Alkeon Capital Management LLC now owns 2,526,537 shares of the semiconductor company’s stock valued at $217,712,000 after purchasing an additional 507,000 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of Analog Devices by 17.8% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 2,030,425 shares of the semiconductor company’s stock valued at $174,962,000 after purchasing an additional 306,554 shares during the period. 88.52% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and set a $103.00 price target (up from $98.00) on shares of Analog Devices in a report on Wednesday, November 22nd. Stifel Nicolaus lowered their price target on Analog Devices from $100.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, November 22nd. Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 target price on shares of Analog Devices in a report on Tuesday, November 21st. B. Riley reaffirmed a “buy” rating and set a $122.00 target price (up from $113.00) on shares of Analog Devices in a report on Wednesday, February 28th. Finally, KeyCorp reaffirmed a “buy” rating and set a $107.00 target price on shares of Analog Devices in a report on Friday, November 24th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Analog Devices presently has an average rating of “Buy” and a consensus target price of $100.57.
Shares of ADI stock traded down $0.04 on Wednesday, reaching $92.67. The company had a trading volume of 824,666 shares, compared to its average volume of 3,110,758. The stock has a market cap of $34,576.64, a PE ratio of 44.56, a P/E/G ratio of 1.40 and a beta of 1.25. 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 current ratio of 1.76 and a quick ratio of 1.31.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.13. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. Analog Devices’s revenue was up 54.4% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. equities analysts anticipate that Analog Devices, Inc. will post 5.57 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Friday, March 9th were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.92 dividend on an annualized basis and a yield of 2.07%. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. Analog Devices’s dividend payout ratio (DPR) is currently 91.87%.
In other Analog Devices news, CAO Eileen Wynne sold 5,209 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $94.86, for a total transaction of $494,125.74. Following the completion of the sale, the chief accounting officer now directly owns 3,895 shares in the company, valued at approximately $369,479.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Yusuf Jamal sold 718 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $90.89, for a total value of $65,259.02. The disclosure for this sale can be found here. Insiders have sold a total of 71,427 shares of company stock valued at $6,483,250 over the last 90 days. Corporate insiders own 0.70% 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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