Flagship Harbor Advisors LLC cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,319 shares of the semiconductor company’s stock after selling 109 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Analog Devices were worth $1,036,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Silicon Valley Capital Partners purchased a new stake in Analog Devices in the 1st quarter valued at about $27,000. Magellan Asset Management Ltd purchased a new stake in Analog Devices in the first quarter valued at approximately $30,000. Fortis Capital Advisors LLC purchased a new stake in Analog Devices in the first quarter valued at approximately $31,000. Quarry LP raised its stake in Analog Devices by 267.4% during the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 123 shares during the period. Finally, Worth Asset Management LLC acquired a new position in shares of Analog Devices in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 85.55% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently commented on ADI shares. Wolfe Research began coverage on Analog Devices in a report on Wednesday, July 19th. They set a “market perform” rating for the company. The Goldman Sachs Group cut their price objective on Analog Devices from $204.00 to $188.00 and set a “buy” rating on the stock in a report on Wednesday, August 23rd. Susquehanna reiterated a “positive” rating and set a $215.00 target price on shares of Analog Devices in a report on Monday. Morgan Stanley cut their price target on shares of Analog Devices from $195.00 to $185.00 and set an “equal weight” rating on the stock in a report on Thursday, August 24th. Finally, StockNews.com downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $203.79.
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $197.64, for a total transaction of $1,976,400.00. Following the sale, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at $13,975,717.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 30,000 shares of company stock worth $5,661,500. 0.46% of the stock is currently owned by insiders.
Analog Devices Stock Performance
Analog Devices stock opened at $179.72 on Tuesday. The stock has a market cap of $89.56 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $185.76 and a 200-day moving average of $185.76. Analog Devices, Inc. has a 52 week low of $133.48 and a 52 week high of $200.10.
Analog Devices (NASDAQ:ADI – Get Free Report) last announced its quarterly earnings data on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.52 by ($0.03). The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.10 billion. Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. Analog Devices’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.52 earnings per share. On average, analysts expect that Analog Devices, Inc. will post 10.12 EPS for the current fiscal year.
Analog Devices Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, September 5th were given a $0.86 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.44 annualized dividend and a dividend yield of 1.91%. Analog Devices’s payout ratio is 46.74%.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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