Quadrant Capital Group LLC raised its stake in Analog Devices Inc. (NASDAQ:ADI) by 18.9% during the second quarter, Holdings Channel reports. The fund owned 2,421 shares of the company’s stock after buying an additional 384 shares during the period. Quadrant Capital Group LLC’s holdings in Analog Devices were worth $131,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. PGGM Investments purchased a new stake in shares of Analog Devices during the second quarter worth approximately $29,028,000. Candriam Luxembourg S.C.A. increased its stake in shares of Analog Devices by 119.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 623,417 shares of the company’s stock worth $35,312,000 after buying an additional 339,513 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Analog Devices during the second quarter worth approximately $12,734,000. BlackRock Fund Advisors increased its stake in shares of Analog Devices by 4.1% in the first quarter. BlackRock Fund Advisors now owns 5,615,463 shares of the company’s stock worth $332,379,000 after buying an additional 218,930 shares in the last quarter. Finally, Moore Capital Management LP purchased a new stake in shares of Analog Devices during the first quarter worth approximately $12,607,000. 85.71% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Inc. (NASDAQ:ADI) traded down 0.49% during midday trading on Friday, hitting $64.42. 1,852,115 shares of the company traded hands. Analog Devices Inc. has a 12-month low of $47.24 and a 12-month high of $66.91. The company has a market cap of $19.81 billion, a PE ratio of 30.43 and a beta of 1.25. The stock has a 50 day moving average price of $62.92 and a 200-day moving average price of $59.74.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. The business earned $870 million during the quarter, compared to the consensus estimate of $847.43 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. Analysts expect that Analog Devices Inc. will post $2.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Friday, August 26th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, August 24th. Analog Devices’s payout ratio is currently 79.62%.
A number of brokerages have commented on ADI. Zacks Investment Research downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday. Pacific Crest reaffirmed a “buy” rating on shares of Analog Devices in a research report on Sunday, September 11th. Stifel Nicolaus increased their target price on shares of Analog Devices from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. B. Riley reaffirmed a “buy” rating and issued a $74.00 target price on shares of Analog Devices in a research report on Saturday, August 20th. Finally, Argus reaffirmed a “buy” rating and issued a $73.00 target price on shares of Analog Devices in a research report on Thursday, August 18th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Analog Devices has a consensus rating of “Buy” and an average target price of $70.64.
In other Analog Devices news, Director John C. Hodgson sold 7,500 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total value of $483,150.00. Following the completion of the sale, the director now directly owns 18,485 shares of the company’s stock, valued at approximately $1,190,803.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 50,000 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $64.06, for a total transaction of $3,203,000.00. Following the completion of the sale, the director now directly owns 257,631 shares of the company’s stock, valued at $16,503,841.86. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.
Analog Devices Company Profile
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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