KBC Group NV lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 32.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,155 shares of the semiconductor company’s stock after buying an additional 17,798 shares during the quarter. KBC Group NV’s holdings in Analog Devices were worth $6,304,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Family Office LLC grew its holdings in Analog Devices by 37.9% in the second quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after purchasing an additional 2,004 shares during the period. Captrust Financial Advisors acquired a new stake in Analog Devices in the second quarter worth $1,130,000. ZWJ Investment Counsel Inc. grew its holdings in Analog Devices by 56.0% in the third quarter. ZWJ Investment Counsel Inc. now owns 8,270 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 2,970 shares during the period. Renaissance Technologies LLC grew its holdings in Analog Devices by 4.5% in the second quarter. Renaissance Technologies LLC now owns 2,207,893 shares of the semiconductor company’s stock worth $171,774,000 after purchasing an additional 94,804 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in Analog Devices by 34.2% in the second quarter. Dupont Capital Management Corp now owns 14,481 shares of the semiconductor company’s stock worth $1,127,000 after purchasing an additional 3,690 shares during the period. Institutional investors own 87.08% of the company’s stock.
ADI has been the subject of a number of analyst reports. BidaskClub upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Drexel Hamilton reiterated a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a report on Wednesday, August 30th. Jefferies Group reiterated a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a report on Thursday, October 19th. Citigroup reiterated a “neutral” rating and set a $88.00 price objective (down from $91.00) on shares of Analog Devices in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday, October 10th. Eleven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $96.04.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm earned $1.05 earnings per share. The firm’s revenue was up 53.4% on a year-over-year basis. research analysts predict that Analog Devices, Inc. will post 5.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, November 30th. Analog Devices’s payout ratio is currently 86.96%.
In other Analog Devices news, CEO Vincent Roche sold 100,000 shares of Analog Devices stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $85.17, for a total value of $8,517,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $85.27, for a total transaction of $2,131,750.00. Following the completion of the sale, the director now directly owns 209,481 shares in the company, valued at approximately $17,862,444.87. The disclosure for this sale can be found here. Insiders have sold 212,256 shares of company stock worth $18,204,884 over the last three months. 1.10% of the stock is 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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