Somerset Trust Co acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,575 shares of the semiconductor company’s stock, valued at approximately $2,357,000. Analog Devices comprises 1.3% of Somerset Trust Co’s investment portfolio, making the stock its 19th biggest holding.
Several other institutional investors also recently modified their holdings of ADI. AXA raised its stake in shares of Analog Devices by 31.1% in the fourth quarter. AXA now owns 18,949 shares of the semiconductor company’s stock worth $1,687,000 after purchasing an additional 4,500 shares during the last quarter. Elkfork Partners LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth approximately $1,064,000. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Analog Devices by 9.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 69,308 shares of the semiconductor company’s stock worth $6,170,000 after purchasing an additional 6,256 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Analog Devices by 2.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,773 shares of the semiconductor company’s stock worth $3,453,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Analog Devices by 30.2% in the fourth quarter. Meadow Creek Investment Management LLC now owns 6,832 shares of the semiconductor company’s stock worth $608,000 after purchasing an additional 1,584 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.
Get Analog Devices alerts:In other Analog Devices news, Director Neil S. Novich sold 7,500 shares of the stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $95.90, for a total transaction of $719,250.00. Following the completion of the transaction, the director now directly owns 30,240 shares of the company’s stock, valued at $2,900,016. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $86.95, for a total value of $869,500.00. Following the transaction, the chief executive officer now directly owns 17,376 shares of the company’s stock, valued at $1,510,843.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,050 shares of company stock valued at $8,230,432. 1.10% of the stock is owned by corporate insiders.
NASDAQ ADI traded down $0.83 on Thursday, hitting $98.26. 1,371,155 shares of the stock traded hands, compared to its average volume of 2,707,014. Analog Devices, Inc. has a 12 month low of $76.41 and a 12 month high of $103.59. The firm has a market cap of $36.44 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.26. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.08. Analog Devices had a return on equity of 20.34% and a net margin of 17.72%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company earned $1.03 earnings per share. Analog Devices’s revenue was up 31.8% compared to the same quarter last year. analysts forecast that Analog Devices, Inc. will post 5.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 19th. Shareholders of record on Friday, June 8th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, June 7th. Analog Devices’s dividend payout ratio (DPR) is 40.68%.
ADI has been the subject of several recent analyst reports. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, May 11th. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, April 4th. B. Riley reduced their target price on Analog Devices from $122.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 31st. Stifel Nicolaus upped their target price on Analog Devices from $105.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, May 31st. Finally, Loop Capital initiated coverage on Analog Devices in a report on Thursday, June 21st. They issued a “buy” rating and a $117.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Analog Devices has a consensus rating of “Buy” and a consensus target price of $104.63.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
Featured Article: What does earnings per share mean?
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).
No comments:
Post a Comment