Analog Devices, Inc. (ADI) Shares Sold by State Street Corp
State Street Corp lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,410,408 shares of the semiconductor company’s stock after selling 548,178 shares during the period. State Street Corp owned 3.93% of Analog Devices worth $1,121,136,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Pathstone Family Office LLC boosted its position in Analog Devices by 75.0% in the second quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock valued at $1,557,000 after buying an additional 15 shares in the last quarter. Pitcairn Co. boosted its position in Analog Devices by 0.6% in the second quarter. Pitcairn Co. now owns 4,719 shares of the semiconductor company’s stock valued at $367,000 after buying an additional 30 shares in the last quarter. King Luther Capital Management Corp boosted its position in Analog Devices by 0.9% in the first quarter. King Luther Capital Management Corp now owns 3,722 shares of the semiconductor company’s stock valued at $305,000 after buying an additional 32 shares in the last quarter. CENTRAL TRUST Co boosted its position in Analog Devices by 1.4% in the second quarter. CENTRAL TRUST Co now owns 2,365 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 32 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC boosted its position in Analog Devices by 1.2% in the second quarter. Osborn Williams & Donohoe LLC now owns 2,834 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.
In other Analog Devices news, Director James Champy sold 10,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the sale, the director now owns 20,185 shares of the company’s stock, valued at approximately $1,715,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Gregory N. Henderson sold 6,396 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.34, for a total transaction of $539,438.64. Following the sale, the senior vice president now directly owns 10,327 shares of the company’s stock, valued at approximately $870,979.18. The disclosure for this sale can be found here. Insiders have sold a total of 126,494 shares of company stock valued at $10,677,931 in the last three months. 1.10% of the stock is currently owned by corporate insiders.
A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley restated an “overweight” rating and issued a $98.00 target price on shares of Analog Devices in a research report on Wednesday, September 20th. Stifel Nicolaus restated a “buy” rating and issued a $97.00 target price on shares of Analog Devices in a research report on Monday, September 25th. B. Riley restated a “buy” rating and issued a $110.00 target price on shares of Analog Devices in a research report on Saturday, September 2nd. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 price target on shares of Analog Devices in a research note on Wednesday, August 30th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $92.12.
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Shares of Analog Devices, Inc. (ADI) traded down 0.02% during trading on Friday, reaching $87.87. 1,118,469 shares of the company were exchanged. The stock has a market capitalization of $32.31 billion, a PE ratio of 43.74 and a beta of 1.30. The stock has a 50-day moving average price of $82.99 and a 200-day moving average price of $80.42. Analog Devices, Inc. has a one year low of $59.54 and a one year high of $90.49.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The business 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 firm’s revenue for the quarter was up 64.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. Analysts forecast that Analog Devices, Inc. will post $4.62 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.80 annualized dividend and a yield of 2.05%. Analog Devices’s payout ratio is currently 86.12%.
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.
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