JPMorgan Chase & Co. Sells 1,257,497 Shares of Analog Devices, Inc. (ADI)
JPMorgan Chase & Co. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,479,137 shares of the semiconductor company’s stock after selling 1,257,497 shares during the period. JPMorgan Chase & Co. owned approximately 4.49% of Analog Devices worth $1,282,077,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of ADI. Lazard Asset Management LLC bought a new stake in Analog Devices during the first quarter valued at approximately $100,000. Whittier Trust Co. of Nevada Inc. raised its stake in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares in the last quarter. Jacobus Wealth Management Inc. bought a new stake in Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co bought a new stake in Analog Devices during the first quarter valued at approximately $114,000. Finally, Guardian Life Insurance Co. of America raised its stake in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ ADI) traded up 0.85% during trading on Friday, reaching $84.38. The company had a trading volume of 2,648,027 shares. The firm has a market capitalization of $30.97 billion, a price-to-earnings ratio of 32.32 and a beta of 1.28. The firm has a 50-day moving average of $79.59 and a 200 day moving average of $80.13. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The firm’s revenue was up 64.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. On average, equities research analysts forecast that Analog Devices, Inc. will post $4.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 annualized dividend and a yield of 2.13%. Analog Devices’s dividend payout ratio is presently 86.12%.
A number of research analysts have recently issued reports on the company. BidaskClub upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday. B. Riley reiterated a “buy” rating and set a $110.00 target price on shares of Analog Devices in a research report on Saturday. Citigroup Inc. reiterated a “neutral” rating and set a $88.00 target price (down previously from $91.00) on shares of Analog Devices in a research report on Friday. Robert W. Baird reiterated an “outperform” rating and set a $100.00 target price (up previously from $98.00) on shares of Analog Devices in a research report on Thursday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $96.00 target price on shares of Analog Devices in a research report on Thursday. Eleven 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 company’s stock. Analog Devices has a consensus rating of “Buy” and a consensus target price of $91.85.
In other news, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.81, for a total value of $233,430.00. Following the completion of the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,587,635.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Evans bought 14,000 shares of the firm’s stock in a transaction dated Friday, July 7th. The stock was bought at an average cost of $78.28 per share, with a total value of $1,095,920.00. Following the transaction, the director now directly owns 67,540 shares of the company’s stock, valued at $5,287,031.20. The disclosure for this purchase can be found here. Insiders have sold 24,487 shares of company stock valued at $1,992,008 over the last 90 days. 1.10% of the stock is currently owned by insiders.
Analog Devices Company Profile
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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