Dalton Greiner Hartman Maher & Co. decreased its stake in Analog Devices Inc. (NASDAQ:ADI) by 18.0% during the third quarter, Holdings Channel reports. The institutional investor owned 208,382 shares of the company’s stock after selling 45,826 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in Analog Devices were worth $13,430,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in ADI. Prospera Financial Services Inc bought a new stake in shares of Analog Devices during the third quarter valued at approximately $451,000. Capstone Asset Management Co. raised its stake in shares of Analog Devices by 2.4% in the third quarter. Capstone Asset Management Co. now owns 101,290 shares of the company’s stock valued at $6,528,000 after buying an additional 2,382 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Analog Devices during the third quarter valued at approximately $1,784,000. Creative Planning raised its stake in shares of Analog Devices by 18.6% in the third quarter. Creative Planning now owns 8,249 shares of the company’s stock valued at $532,000 after buying an additional 1,296 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in shares of Analog Devices by 0.5% in the third quarter. Raymond James Trust N.A. now owns 61,098 shares of the company’s stock valued at $3,938,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.
Analog Devices Inc. (NASDAQ:ADI) traded up 0.13% during midday trading on Monday, reaching $74.30. 2,371,532 shares of the company’s stock traded hands. The company’s 50-day moving average price is $65.04 and its 200 day moving average price is $61.44. The stock has a market capitalization of $22.85 billion, a price-to-earnings ratio of 35.10 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 posted its quarterly earnings data on Tuesday, November 22nd. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.16. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The company earned $1 million during the quarter, compared to analyst estimates of $941.92 million. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts expect that Analog Devices Inc. will post $3.40 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, December 2nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Wednesday, November 30th. Analog Devices’s payout ratio is 60.87%.
Several brokerages have issued reports on ADI. B. Riley reissued a “buy” rating and set a $87.00 price objective on shares of Analog Devices in a research report on Monday. RBC Capital Markets reissued an “outperform” rating and set a $75.00 price objective on shares of Analog Devices in a research report on Friday. MKM Partners raised their price objective on shares of Analog Devices from $67.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 23rd. KeyCorp raised their price objective on shares of Analog Devices from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 23rd. Finally, Deutsche Bank AG lifted their target price on shares of Analog Devices from $65.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, November 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $73.97.
In other Analog Devices news, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $63.20, for a total value of $1,580,000.00. Following the completion of the transaction, the director now directly owns 257,631 shares in the company, valued at $16,282,279.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Rick D. Hess sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 30,495 shares of the company’s stock, valued at $1,909,901.85. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company 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.