Epoch Investment Partners Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 358,406 shares of the semiconductor company’s stock after selling 25,787 shares during the quarter. Epoch Investment Partners Inc. owned about 0.10% of Analog Devices worth $30,884,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. IFP Advisors Inc grew its position in shares of Analog Devices by 4.1% in the 2nd quarter. IFP Advisors Inc now owns 9,221 shares of the semiconductor company’s stock worth $717,000 after buying an additional 365 shares during the period. Retirement Systems of Alabama grew its position in shares of Analog Devices by 1.1% in the 2nd quarter. Retirement Systems of Alabama now owns 177,948 shares of the semiconductor company’s stock worth $13,844,000 after buying an additional 2,022 shares during the period. BP PLC grew its position in shares of Analog Devices by 58.0% in the 2nd quarter. BP PLC now owns 73,000 shares of the semiconductor company’s stock worth $5,679,000 after buying an additional 26,805 shares during the period. Global X Management Co. LLC grew its position in shares of Analog Devices by 22.3% in the 2nd quarter. Global X Management Co. LLC now owns 15,294 shares of the semiconductor company’s stock worth $1,190,000 after buying an additional 2,786 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in shares of Analog Devices in the 2nd quarter worth about $2,363,000. Institutional investors and hedge funds own 87.08% of the company’s stock.
In other news, CEO Vincent Roche sold 100,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $85.17, for a total value of $8,517,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Champy sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $87.00, for a total transaction of $435,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 212,256 shares of company stock worth $18,204,884. Insiders own 1.10% of the company’s stock.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.09. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The business’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. sell-side analysts forecast that Analog Devices, Inc. will post 5.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, November 30th. Analog Devices’s payout ratio is presently 86.96%.
A number of analysts have recently weighed in on ADI shares. BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 target price on shares of Analog Devices in a research report on Wednesday, August 30th. Jefferies Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research report on Thursday, October 19th. Citigroup reissued a “neutral” rating and set a $88.00 price objective (down from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. 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 investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Analog Devices has a consensus rating of “Buy” and a consensus price target of $96.04.
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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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