Pinnacle Associates Ltd. bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,574 shares of the semiconductor company’s stock, valued at approximately $222,000.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Analog Devices by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock valued at $2,260,331,000 after buying an additional 847,762 shares during the period. BlackRock Inc. grew its holdings in shares of Analog Devices by 6.2% in the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after buying an additional 1,437,338 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Analog Devices by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,692,851 shares of the semiconductor company’s stock valued at $1,429,574,000 after buying an additional 213,714 shares during the period. Franklin Resources Inc. grew its holdings in shares of Analog Devices by 54.1% in the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock valued at $719,786,000 after buying an additional 3,248,336 shares during the period. Finally, FMR LLC lifted its position in Analog Devices by 14.6% in the 2nd quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock valued at $691,608,000 after acquiring an additional 1,132,549 shares in the last quarter. 87.08% of the stock is owned by institutional investors.

Shares of Analog Devices, Inc. (NASDAQ:ADI) opened at $84.83 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.47. Analog Devices, Inc. has a 52-week low of $70.26 and a 52-week high of $93.99. The company has a market cap of $31,256.63, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.57 and a beta of 1.29.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm posted $1.05 EPS. The company’s revenue for the quarter was up 53.4% on a year-over-year basis. sell-side analysts anticipate that Analog Devices, Inc. will post 5.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be issued a $0.45 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. Analog Devices’s payout ratio is 86.96%.

ADI has been the topic of several research reports. BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Analog Devices in a research report on Wednesday, August 30th. B. Riley reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Analog Devices in a research report on Sunday, August 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Analog Devices in a research report on Monday, September 25th. Finally, Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Tuesday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $96.04.

In other news, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $83.50, for a total value of $2,087,500.00. Following the sale, the director now directly owns 234,481 shares of the company’s stock, valued at approximately $19,579,163.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 100,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $85.17, for a total transaction of $8,517,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,256 shares of company stock worth $18,204,884. 1.10% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: “Pinnacle Associates Ltd. Takes Position in Analog Devices, Inc. (ADI)” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/06/pinnacle-associates-ltd-takes-position-in-analog-devices-inc-adi.html.

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.

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI).

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

Receive News & Stock Ratings for Analog Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices Inc. and related stocks with our FREE daily email newsletter.