Schwab Charles Investment Management Inc. Raises Position in Analog Devices, Inc. (ADI)
Schwab Charles Investment Management Inc. increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,757,141 shares of the semiconductor company’s stock after purchasing an additional 43,532 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.48% of Analog Devices worth $151,413,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Analog Devices during the second quarter valued at $119,000. WFG Advisors LP lifted its holdings in shares of Analog Devices by 26.4% during the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 330 shares during the period. NEXT Financial Group Inc lifted its holdings in shares of Analog Devices by 64.4% during the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock valued at $136,000 after acquiring an additional 600 shares during the period. Crow Point Partners LLC bought a new position in shares of Analog Devices during the third quarter valued at $140,000. Finally, Archford Capital Strategies LLC increased its stake in shares of Analog Devices by 3,590.9% in the second quarter. Archford Capital Strategies LLC now owns 4,466 shares of the semiconductor company’s stock valued at $158,000 after buying an additional 4,345 shares in the last quarter. 87.31% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Jean Philibert sold 5,098 shares of Analog Devices stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $90.24, for a total transaction of $460,043.52. Following the transaction, the senior vice president now owns 5,098 shares in the company, valued at approximately $460,043.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Champy sold 10,000 shares of Analog Devices stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the transaction, the director now owns 20,185 shares in the company, valued at approximately $1,715,725. The disclosure for this sale can be found here. Insiders have sold a total of 133,536 shares of company stock valued at $11,482,697 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ:ADI) opened at $85.66 on Thursday. The company has a market capitalization of $32,097.12, a PE ratio of 18.60, a P/E/G ratio of 1.61 and a beta of 1.32. Analog Devices, Inc. has a 12-month low of $68.42 and a 12-month high of $93.99. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.09. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The company’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. analysts anticipate that Analog Devices, Inc. will post 5.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.10%. Analog Devices’s payout ratio is currently 86.96%.
A number of brokerages have recently weighed in on ADI. B. Riley restated a “buy” rating and issued a $110.00 target price on shares of Analog Devices in a research note on Sunday, August 27th. Stifel Nicolaus lowered their target price on Analog Devices from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. Morgan Stanley restated an “overweight” rating and issued a $103.00 target price (up from $98.00) on shares of Analog Devices in a research note on Wednesday, November 22nd. Royal Bank Of Canada raised their target price on Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, August 31st. Finally, BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $96.04.
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Analog Devices Company 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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