Mutual of America Capital Management LLC cut its stake in shares of Analog Devices Inc. (NASDAQ:ADI) by 2.1% during the third quarter, Holdings Channel reports. The firm owned 46,390 shares of the company’s stock after selling 985 shares during the period. Mutual of America Capital Management LLC’s holdings in Analog Devices were worth $2,990,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Evercore Wealth Management LLC increased its stake in shares of Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock valued at $100,000 after buying an additional 123 shares in the last quarter. Peddock Capital Advisors LLC purchased a new stake in shares of Analog Devices during the third quarter valued at approximately $101,000. NN Investment Partners Holdings N.V. increased its stake in shares of Analog Devices by 16.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,079 shares of the company’s stock valued at $118,000 after buying an additional 300 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock valued at $131,000 after buying an additional 384 shares in the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in shares of Analog Devices during the second quarter valued at approximately $146,000. 86.33% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Inc. (NASDAQ:ADI) remained flat at $73.59 on Thursday. The company’s stock had a trading volume of 5,923,012 shares. The stock’s 50 day moving average is $64.77 and its 200 day moving average is $61.30. The firm has a market capitalization of $22.63 billion, a price-to-earnings ratio of 34.76 and a beta of 1.18. Analog Devices Inc. has a 52-week low of $47.24 and a 52-week high of $74.87.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.16. The firm earned $1 million during the quarter, compared to the consensus estimate of $941.92 million. Analog Devices had a return on equity of 19.51% and a net margin of 25.18%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts expect that Analog Devices Inc. will post $3.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Friday, December 2nd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.68 annualized dividend and a yield of 2.28%. Analog Devices’s dividend payout ratio (DPR) is currently 60.87%.
ADI has been the topic of several research reports. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, October 5th. B. Riley restated a “buy” rating and set a $80.00 target price on shares of Analog Devices in a research report on Tuesday, November 15th. Bank of America Corp. upgraded shares of Analog Devices from a “neutral” rating to a “buy” rating and upped their target price for the company from $72.89 to $85.00 in a research report on Wednesday. KeyCorp upped their target price on shares of Analog Devices from $77.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, MKM Partners upped their target price on shares of Analog Devices from $56.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $73.97.
In related news, SVP Rick D. Hess sold 6,000 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $62.63, for a total transaction of $375,780.00. Following the completion of the sale, the senior vice president now owns 30,495 shares in the company, valued at $1,909,901.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Hodgson sold 7,500 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $64.42, for a total value of $483,150.00. Following the sale, the director now owns 18,485 shares of the company’s stock, valued at approximately $1,190,803.70. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
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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