Trillium Asset Management LLC Raises Position in Analog Devices Inc. (ADI)
Trillium Asset Management LLC raised its position in Analog Devices Inc. (NASDAQ:ADI) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,709 shares of the company’s stock after buying an additional 10,738 shares during the period. Trillium Asset Management LLC’s holdings in Analog Devices were worth $4,911,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of ADI. State Street Corp raised its position in Analog Devices by 0.5% in the first quarter. State Street Corp now owns 12,491,451 shares of the company’s stock valued at $739,377,000 after buying an additional 60,097 shares during the last quarter. JPMorgan Chase & Co. raised its position in Analog Devices by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 8,984,315 shares of the company’s stock valued at $531,782,000 after buying an additional 197,978 shares during the last quarter. Wellington Management Group LLP raised its position in Analog Devices by 0.7% in the first quarter. Wellington Management Group LLP now owns 6,727,073 shares of the company’s stock valued at $398,175,000 after buying an additional 46,114 shares during the last quarter. BlackRock Fund Advisors raised its position in Analog Devices by 4.1% in the first quarter. BlackRock Fund Advisors now owns 5,615,463 shares of the company’s stock valued at $332,379,000 after buying an additional 218,930 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in Analog Devices by 1.0% in the first quarter. Primecap Management Co. CA now owns 4,403,345 shares of the company’s stock valued at $260,634,000 after buying an additional 42,500 shares during the last quarter. Hedge funds and other institutional investors own 85.71% of the company’s stock.
Shares of Analog Devices Inc. (NASDAQ:ADI) traded up 0.09% on Thursday, hitting $64.74. 1,355,332 shares of the stock traded hands. The firm’s 50-day moving average is $62.90 and its 200 day moving average is $59.70. The firm has a market cap of $19.91 billion, a P/E ratio of 30.58 and a beta of 1.25. Analog Devices Inc. has a 12-month low of $47.24 and a 12-month high of $66.91.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The company had revenue of $870 million for the quarter, compared to analyst estimates of $847.43 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. Equities research analysts forecast that Analog Devices Inc. will post $2.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Friday, August 26th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.59%. Analog Devices’s dividend payout ratio is currently 79.62%.
Several research firms have weighed in on ADI. Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Thursday. B. Riley reiterated a “buy” rating and issued a $73.00 target price on shares of Analog Devices in a report on Monday, August 15th. Citigroup Inc. decreased their target price on shares of Analog Devices from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, August 18th. Wells Fargo & Co. reiterated a “buy” rating on shares of Analog Devices in a report on Thursday, August 18th. Finally, Morgan Stanley reissued a “buy” rating and issued a $78.00 price target on shares of Analog Devices in a research note on Thursday, August 18th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $70.64.
In other Analog Devices news, Director Ray Stata sold 50,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $64.06, for a total value of $3,203,000.00. Following the sale, the director now directly owns 257,631 shares in the company, valued at $16,503,841.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rick D. Hess sold 6,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $60.03, for a total transaction of $360,180.00. Following the completion of the sale, the senior vice president now owns 36,495 shares in the company, valued at $2,190,794.85. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
About Analog Devices
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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