Meitav Dash Investments Ltd. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,484 shares of the semiconductor company’s stock after selling 818 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in Analog Devices were worth $1,403,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ADI. Oregon Public Employees Retirement Fund raised its holdings in Analog Devices by 8,439.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,472,596 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 3,431,930 shares during the last quarter. Norges Bank bought a new stake in Analog Devices during the 4th quarter worth about $292,919,000. FMR LLC raised its holdings in Analog Devices by 18.3% during the 4th quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock worth $667,363,000 after purchasing an additional 1,200,683 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Analog Devices by 6.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,194,991 shares of the semiconductor company’s stock worth $1,561,676,000 after purchasing an additional 1,147,088 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Analog Devices by 3,063.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,079,103 shares of the semiconductor company’s stock worth $92,619,000 after purchasing an additional 1,044,995 shares during the last quarter. 89.53% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. ValuEngine upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Goldman Sachs Group upgraded Analog Devices from a “sell” rating to a “buy” rating and boosted their price objective for the company from $101.00 to $114.00 in a research report on Monday, June 10th. Nomura started coverage on Analog Devices in a research report on Monday, June 3rd. They issued a “neutral” rating and a $90.00 price objective for the company. Zacks Investment Research lowered Analog Devices from a “hold” rating to a “strong sell” rating and set a $102.00 price objective for the company. in a research report on Wednesday, May 29th. Finally, Morgan Stanley decreased their price objective on Analog Devices from $100.00 to $97.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $109.00.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business earned $1.45 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 5.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 31st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, May 30th. Analog Devices’s dividend payout ratio is 36.36%.
In other news, Director James Champy sold 4,250 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $115.04, for a total transaction of $488,920.00. Following the sale, the director now directly owns 17,510 shares of the company’s stock, valued at approximately $2,014,350.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.50, for a total value of $1,165,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,936 shares of company stock worth $9,398,310. Insiders own 0.50% of the company’s stock.
About Analog Devices
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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