Bank of Montreal Can Purchases Shares of 224,839 Analog Devices Inc. (ADI)
Bank of Montreal Can purchased a new position in shares of Analog Devices Inc. (NASDAQ:ADI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 224,839 shares of the company’s stock, valued at approximately $12,734,000. Bank of Montreal Can owned about 0.07% of Analog Devices as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. NN Investment Partners Holdings N.V. purchased a new position in shares of Analog Devices during the first quarter valued at about $105,000. Meeder Asset Management Inc. bought a new position in Analog Devices during the first quarter worth about $112,000. Peapack Gladstone Financial Corp bought a new position in Analog Devices during the first quarter worth about $214,000. Virginia Retirement System bought a new position in Analog Devices during the first quarter worth about $300,000. Finally, Creative Planning raised its position in Analog Devices by 31.6% in the second quarter. Creative Planning now owns 6,953 shares of the company’s stock worth $394,000 after buying an additional 1,668 shares in the last quarter. Institutional investors own 85.71% of the company’s stock.
Shares of Analog Devices Inc. (NASDAQ:ADI) traded up 1.11% during mid-day trading on Friday, reaching $64.45. 3,104,694 shares of the company were exchanged. The firm’s 50-day moving average is $62.94 and its 200-day moving average is $59.53. Analog Devices Inc. has a 12 month low of $47.24 and a 12 month high of $66.91. The company has a market capitalization of $19.82 billion, a price-to-earnings ratio of 30.44 and a beta of 1.21.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The company earned $870 million during the quarter, compared to the consensus estimate of $847.43 million. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices Inc. will post $2.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Friday, August 26th were given a $0.42 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.68 dividend on an annualized basis and a yield of 2.61%. Analog Devices’s payout ratio is 79.62%.
A number of equities analysts recently issued reports on ADI shares. JPMorgan Chase & Co. raised their price target on Analog Devices from $58.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Morgan Stanley reissued a “buy” rating and set a $78.00 price target on shares of Analog Devices in a report on Thursday, August 18th. Wells Fargo & Co. reissued a “buy” rating on shares of Analog Devices in a report on Thursday, August 18th. Pacific Crest reissued a “buy” rating on shares of Analog Devices in a report on Sunday, September 11th. Finally, Stifel Nicolaus raised their price target on Analog Devices from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $70.68.
In related news, SVP Peter Real sold 6,500 shares of the firm’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $64.14, for a total value of $416,910.00. Following the transaction, the senior vice president now directly owns 13,786 shares in the company, valued at approximately $884,234.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $62.91, for a total transaction of $629,100.00. Following the completion of the transaction, the senior vice president now owns 10,064 shares in the company, valued at $633,126.24. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
About Analog Devices
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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