Symmetry Partners LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 25.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,163 shares of the semiconductor company’s stock after selling 1,088 shares during the period. Symmetry Partners LLC’s holdings in Analog Devices were worth $616,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in ADI. Silicon Valley Capital Partners acquired a new stake in shares of Analog Devices in the first quarter worth about $27,000. Magellan Asset Management Ltd acquired a new stake in shares of Analog Devices in the first quarter worth about $30,000. Fortis Capital Advisors LLC acquired a new stake in shares of Analog Devices in the first quarter worth about $31,000. Quarry LP lifted its position in shares of Analog Devices by 267.4% in the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after buying an additional 123 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new stake in shares of Analog Devices in the first quarter worth about $33,000. Institutional investors and hedge funds own 85.55% of the company’s stock.
Wall Street Analysts Forecast Growth
ADI has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Analog Devices from $215.00 to $200.00 in a research note on Thursday, May 25th. Citigroup dropped their price objective on Analog Devices from $225.00 to $200.00 in a research note on Thursday, May 25th. Morgan Stanley dropped their price objective on Analog Devices from $195.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 24th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research note on Thursday, August 24th. Finally, Wolfe Research initiated coverage on Analog Devices in a research note on Wednesday, July 19th. They issued a “market perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.21.
Analog Devices Trading Up 2.0 %
ADI stock opened at $179.67 on Friday. Analog Devices, Inc. has a 1-year low of $133.48 and a 1-year high of $200.10. The firm has a market cap of $89.53 billion, a P/E ratio of 24.41, a P/E/G ratio of 1.82 and a beta of 1.17. The business’s 50 day moving average is $185.90 and its 200-day moving average is $185.76. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18.
Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.52 by ($0.03). Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company posted $2.52 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts anticipate that Analog Devices, Inc. will post 10.15 earnings per share for the current fiscal year.
Analog Devices Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, September 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, September 1st. Analog Devices’s payout ratio is currently 46.74%.
Insider Transactions at Analog Devices
In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $182.60, for a total value of $1,826,000.00. Following the transaction, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at approximately $12,912,193.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 30,000 shares of company stock valued at $5,661,500 in the last three months. 0.46% of the stock is owned by corporate insiders.
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 provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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