Analog Devices, Inc. (ADI) Shares Sold by Buckingham Capital Management Inc.
Buckingham Capital Management Inc. cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,081 shares of the semiconductor company’s stock after selling 2,560 shares during the period. Analog Devices accounts for 0.9% of Buckingham Capital Management Inc.’s holdings, making the stock its 23rd largest position. Buckingham Capital Management Inc.’s holdings in Analog Devices were worth $4,052,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. British Columbia Investment Management Corp boosted its stake in Analog Devices by 34.2% during the first quarter. British Columbia Investment Management Corp now owns 208,526 shares of the semiconductor company’s stock worth $17,089,000 after buying an additional 53,139 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Analog Devices during the first quarter worth $63,309,000. Boston Family Office LLC boosted its stake in Analog Devices by 37.9% during the second quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after buying an additional 2,004 shares during the last quarter. Norinchukin Bank The boosted its stake in Analog Devices by 26.5% during the first quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock worth $1,938,000 after buying an additional 4,956 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Analog Devices by 51.3% during the first quarter. Swiss National Bank now owns 1,291,248 shares of the semiconductor company’s stock worth $105,818,000 after buying an additional 437,580 shares during the last quarter. 86.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Analog Devices, Inc. (ADI) traded down 0.17% during midday trading on Wednesday, reaching $82.01. The company’s stock had a trading volume of 247,305 shares. The firm has a market capitalization of $30.15 billion, a price-to-earnings ratio of 40.82 and a beta of 1.29. Analog Devices, Inc. has a 52 week low of $59.54 and a 52 week high of $90.49. The firm’s 50 day moving average is $79.73 and its 200 day moving average is $80.12.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company posted $0.82 earnings per share. The firm’s revenue was up 64.9% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post $4.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, September 7th. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.
In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $80.28, for a total value of $240,840.00. Following the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,638,033.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Evans acquired 14,000 shares of the business’s stock in a transaction on Friday, July 7th. The stock was bought at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the transaction, the director now directly owns 67,540 shares of the company’s stock, valued at $5,287,031.20. The disclosure for this purchase can be found here. Insiders sold 45,686 shares of company stock worth $3,780,282 over the last three months. 1.10% of the stock is currently owned by corporate insiders.
ADI has been the topic of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research note on Monday, May 22nd. Credit Suisse Group reissued a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research note on Friday, May 26th. B. Riley reissued a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research note on Tuesday, May 30th. Drexel Hamilton reissued a “buy” rating and set a $105.00 price objective (up previously from $93.00) on shares of Analog Devices in a research note on Wednesday, May 31st. Finally, Royal Bank Of Canada boosted their price objective on Analog Devices from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Twelve equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $91.85.
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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