Analog Devices, Inc. (ADI) Shares Bought by ProVise Management Group LLC
ProVise Management Group LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 1,581.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,303 shares of the semiconductor company’s stock after purchasing an additional 72,706 shares during the quarter. ProVise Management Group LLC’s holdings in Analog Devices were worth $6,661,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SPF Beheer BV lifted its stake in shares of Analog Devices by 6.5% in the 3rd quarter. SPF Beheer BV now owns 913,322 shares of the semiconductor company’s stock valued at $78,701,000 after purchasing an additional 55,350 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Analog Devices by 13.8% in the 3rd quarter. Pacer Advisors Inc. now owns 14,294 shares of the semiconductor company’s stock valued at $1,232,000 after purchasing an additional 1,731 shares during the period. NEXT Financial Group Inc lifted its stake in shares of Analog Devices by 64.4% in the 3rd quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 600 shares during the period. Rational Advisors LLC lifted its stake in shares of Analog Devices by 30.5% in the 3rd quarter. Rational Advisors LLC now owns 12,400 shares of the semiconductor company’s stock valued at $1,069,000 after purchasing an additional 2,900 shares during the period. Finally, Regal Investment Advisors LLC purchased a new position in shares of Analog Devices in the 3rd quarter valued at approximately $2,047,000. Institutional investors own 87.44% of the company’s stock.
Analog Devices, Inc. (NASDAQ:ADI) traded up $2.65 during midday trading on Tuesday, reaching $93.07. The company had a trading volume of 6,527,700 shares, compared to its average volume of 2,942,775. The stock has a market capitalization of $34,080.00, a P/E ratio of 21.13, a PEG ratio of 1.76 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.83. Analog Devices, Inc. has a 12 month low of $68.42 and a 12 month high of $93.99.
Analog Devices (NASDAQ:ADI) last released its earnings results on Monday, November 20th. The semiconductor company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.09. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. Analog Devices’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. sell-side analysts anticipate that Analog Devices, Inc. will post 4.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.93%. Analog Devices’s dividend payout ratio (DPR) is presently 90.00%.
ADI has been the subject of a number of recent research reports. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Citigroup Inc. reiterated a “neutral” rating and set a $88.00 price objective (down previously from $91.00) on shares of Analog Devices in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $92.00 price objective on shares of Analog Devices in a research note on Friday, August 4th. Robert W. Baird reiterated an “outperform” rating and set a $100.00 price objective (up previously from $98.00) on shares of Analog Devices in a research note on Thursday, August 31st. Finally, Instinet upgraded Analog Devices from a “reduce” rating to a “neutral” rating and lifted their price objective for the company from $72.50 to $80.00 in a research note on Thursday, August 31st. Twelve equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Analog Devices has an average rating of “Buy” and a consensus target price of $93.69.
In other news, Director Ray Stata sold 25,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the transaction, the director now directly owns 234,481 shares in the company, valued at $19,579,163.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Champy sold 12,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $90.00, for a total value of $1,125,000.00. Following the completion of the transaction, the director now owns 21,910 shares in the company, valued at $1,971,900. The disclosure for this sale can be found here. Insiders have sold 132,994 shares of company stock worth $11,370,618 over the last quarter. 1.10% of the stock is owned by company insiders.
Analog Devices Profile
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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