Amundi Pioneer Asset Management Inc. increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 35.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,021,801 shares of the semiconductor company’s stock after purchasing an additional 795,033 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.82% of Analog Devices worth $446,410,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Norges Bank acquired a new stake in Analog Devices in the fourth quarter valued at approximately $574,864,000. Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 68.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,345,668 shares of the semiconductor company’s stock valued at $641,986,000 after acquiring an additional 1,761,299 shares in the last quarter. FMR LLC boosted its stake in Analog Devices by 21.0% in the fourth quarter. FMR LLC now owns 6,370,184 shares of the semiconductor company’s stock valued at $941,067,000 after acquiring an additional 1,104,853 shares in the last quarter. Egerton Capital UK LLP acquired a new stake in Analog Devices in the fourth quarter valued at approximately $116,175,000. Finally, Brown Advisory Inc. boosted its stake in Analog Devices by 23.2% in the fourth quarter. Brown Advisory Inc. now owns 3,062,089 shares of the semiconductor company’s stock valued at $452,362,000 after acquiring an additional 576,210 shares in the last quarter. Hedge funds and other institutional investors own 91.90% of the company’s stock.
ADI has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a research note on Monday, February 22nd. Argus lifted their price target on Analog Devices from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 19th. Royal Bank of Canada lifted their price target on Analog Devices from $174.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 16th. Raymond James lifted their price objective on Analog Devices from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, February 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Analog Devices from $142.00 to $150.00 and gave the company a “hold” rating in a research note on Thursday, December 17th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Analog Devices currently has an average rating of “Buy” and a consensus target price of $157.92.
In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 1st. The stock was sold at an average price of $148.34, for a total transaction of $1,483,400.00. Following the transaction, the chief executive officer now directly owns 16,957 shares in the company, valued at approximately $2,515,401.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Gregory N. Henderson sold 14,557 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $154.60, for a total value of $2,250,512.20. Following the transaction, the senior vice president now owns 8,910 shares in the company, valued at $1,377,486. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,958 shares of company stock valued at $10,118,958. 0.42% of the stock is owned by company insiders.
Shares of Analog Devices stock opened at $159.45 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 0.43. Analog Devices, Inc. has a twelve month low of $95.75 and a twelve month high of $164.40. The business has a 50-day moving average price of $154.64 and a 200 day moving average price of $142.21. The firm has a market cap of $58.82 billion, a PE ratio of 48.61, a P/E/G ratio of 2.26 and a beta of 1.31.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, February 16th. The semiconductor company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.12. Analog Devices had a return on equity of 15.51% and a net margin of 21.79%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business earned $1.03 EPS. On average, sell-side analysts expect that Analog Devices, Inc. will post 5.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 9th. Shareholders of record on Friday, February 26th were paid a dividend of $0.69 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.62. This represents a $2.76 annualized dividend and a yield of 1.73%. The ex-dividend date was Thursday, February 25th. Analog Devices’s payout ratio is 56.21%.
Analog Devices Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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