Somerset Trust Co raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 22,788 shares of the semiconductor company’s stock after buying an additional 628 shares during the period. Somerset Trust Co’s holdings in Analog Devices were worth $1,772,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in shares of Analog Devices during the first quarter valued at approximately $100,000. Jacobus Wealth Management Inc. purchased a new position in shares of Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co purchased a new position in shares of Analog Devices during the first quarter valued at approximately $114,000. Guardian Life Insurance Co. of America increased its position in shares of Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the last quarter. Finally, Financial Architects Inc increased its position in shares of Analog Devices by 291.6% in the first quarter. Financial Architects Inc now owns 1,547 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 1,152 shares during the last quarter. 87.33% of the stock is owned by institutional investors.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 81.14 on Wednesday. The company has a market cap of $29.78 billion, a price-to-earnings ratio of 31.08 and a beta of 1.30. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49. The stock’s 50 day moving average is $80.13 and its 200-day moving average is $79.03.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.18. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm’s revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, equities analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Friday, June 9th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.22%. The ex-dividend date was Wednesday, June 7th. Analog Devices’s dividend payout ratio is presently 67.92%.
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Several research analysts have commented on the stock. UBS AG reissued a “neutral” rating and issued a $94.00 price target (up from $83.00) on shares of Analog Devices in a report on Saturday, June 3rd. B. Riley reissued a “buy” rating and issued a $103.00 price target on shares of Analog Devices in a report on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a report on Monday, July 10th. BMO Capital Markets reissued a “buy” rating and issued a $96.00 price target on shares of Analog Devices in a report on Friday, March 31st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $97.00 price target (up from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $88.86.
In other Analog Devices news, Director Bruce R. Evans bought 14,000 shares of the business’s stock in a transaction on Friday, July 7th. The shares were acquired at an average price of $78.28 per share, with a total value of $1,095,920.00. Following the transaction, the director now owns 67,540 shares of the company’s stock, valued at approximately $5,287,031.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $77.52, for a total transaction of $232,560.00. Following the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,581,718.08. The disclosure for this sale can be found here. Insiders sold a total of 59,581 shares of company stock worth $5,073,308 in the last ninety days. 1.10% of the stock is currently owned by insiders.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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