Analog Devices, Inc. (ADI) Stake Increased by Shelton Capital Management
Shelton Capital Management grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,827 shares of the semiconductor company’s stock after acquiring an additional 5,172 shares during the period. Shelton Capital Management’s holdings in Analog Devices were worth $3,799,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in Analog Devices in the first quarter valued at $100,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Analog Devices by 51.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 475 shares during the last quarter. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the 1st quarter valued at $113,000. Guardian Life Insurance Co. of America boosted its stake in Analog Devices by 18.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 223 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in Analog Devices during the 2nd quarter valued at $119,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Bruce R. Evans bought 14,000 shares of the business’s stock in a transaction on Friday, July 7th. The shares were bought at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the acquisition, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 25,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the sale, the director now owns 234,481 shares in the company, valued at $19,579,163.50. The disclosure for this sale can be found here. Insiders sold a total of 106,494 shares of company stock worth $8,920,681 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on ADI shares. Royal Bank Of Canada lifted their target price on Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Drexel Hamilton restated a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a research note on Wednesday, August 30th. Morgan Stanley restated an “overweight” rating and set a $96.00 price objective on shares of Analog Devices in a research note on Thursday, August 31st. Finally, Nomura raised shares of Analog Devices from a “reduce” rating to a “neutral” rating and lifted their price objective for the stock from $72.50 to $80.00 in a report on Thursday, August 31st. Thirteen equities research 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. The stock has a consensus rating of “Buy” and an average price target of $91.92.
Analog Devices, Inc. (NASDAQ ADI) traded down 0.02% during mid-day trading on Wednesday, hitting $85.88. The stock had a trading volume of 576,688 shares. The company has a 50-day moving average price of $82.27 and a 200 day moving average price of $80.28. Analog Devices, Inc. has a 1-year low of $59.54 and a 1-year high of $90.49. The company has a market cap of $31.58 billion, a P/E ratio of 42.75 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (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 company’s revenue for the quarter was up 64.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. Equities research analysts forecast that Analog Devices, Inc. will post $4.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Friday, September 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. Analog Devices’s dividend payout ratio is 86.12%.
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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