PNC Financial Services Group Inc. grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 869.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,100,991 shares of the semiconductor company’s stock after buying an additional 987,365 shares during the quarter. PNC Financial Services Group Inc. owned 0.30% of Analog Devices worth $85,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. ProShare Advisors LLC lifted its position in shares of Analog Devices by 53.7% during the 2nd quarter. ProShare Advisors LLC now owns 187,233 shares of the semiconductor company’s stock worth $14,567,000 after buying an additional 65,386 shares in the last quarter. Profund Advisors LLC lifted its position in shares of Analog Devices by 19.7% during the 2nd quarter. Profund Advisors LLC now owns 103,990 shares of the semiconductor company’s stock worth $8,090,000 after buying an additional 17,137 shares in the last quarter. Amalgamated Bank lifted its position in shares of Analog Devices by 67.0% during the 2nd quarter. Amalgamated Bank now owns 42,751 shares of the semiconductor company’s stock worth $3,326,000 after buying an additional 17,151 shares in the last quarter. BlackRock Inc. lifted its position in shares of 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 in the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Analog Devices by 52.2% during the 2nd quarter. Nationwide Fund Advisors now owns 233,529 shares of the semiconductor company’s stock worth $18,169,000 after buying an additional 80,045 shares in the last quarter. 86.72% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on ADI. BidaskClub cut shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Saturday, September 9th. B. Riley reissued a “buy” rating and set a $110.00 target price on shares of Analog Devices in a research report on Saturday, September 2nd. Citigroup Inc. reissued 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, September 1st. Robert W. Baird reissued 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, August 31st. Finally, Morgan Stanley reissued an “overweight” rating and set a $96.00 target price on shares of Analog Devices in a research report on Thursday, August 31st. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Analog Devices currently has a consensus rating of “Buy” and an average price target of $91.85.

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Analog Devices, Inc. (NASDAQ:ADI) traded up 1.82% on Friday, hitting $83.84. 2,923,791 shares of the stock were exchanged. The firm has a market cap of $30.83 billion, a P/E ratio of 41.73 and a beta of 1.29. Analog Devices, Inc. has a 12 month low of $59.54 and a 12 month high of $90.49. The company has a 50-day moving average of $80.06 and a 200 day moving average of $80.17.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company’s revenue for the quarter was up 64.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. Equities research analysts expect that Analog Devices, Inc. will post $4.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th will be paid a $0.45 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.

In related news, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction on 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 $19,579,163.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total transaction of $240,840.00. Following the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,638,033.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,686 shares of company stock valued at $5,867,782. Corporate insiders own 1.10% of the company’s stock.

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.

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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