Grandfield & Dodd LLC increased its position in Analog Devices Inc. (NASDAQ:ADI) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 310,034 shares of the company’s stock after buying an additional 2,290 shares during the period. Analog Devices comprises 2.5% of Grandfield & Dodd LLC’s portfolio, making the stock its 10th largest position. Grandfield & Dodd LLC’s holdings in Analog Devices were worth $17,560,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in ADI. Huntington National Bank boosted its position in Analog Devices by 40.7% in the second quarter. Huntington National Bank now owns 329,395 shares of the company’s stock valued at $18,657,000 after buying an additional 95,359 shares during the period. Capital Fund Management S.A. acquired a new position in Analog Devices during the second quarter valued at about $9,639,000. Candriam Luxembourg S.C.A. boosted its position in Analog Devices by 119.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 623,417 shares of the company’s stock valued at $35,312,000 after buying an additional 339,513 shares during the period. Confluence Investment Management LLC boosted its position in Analog Devices by 8.4% in the second quarter. Confluence Investment Management LLC now owns 165,264 shares of the company’s stock valued at $9,361,000 after buying an additional 12,815 shares during the period. Finally, PGGM Investments acquired a new position in Analog Devices during the second quarter valued at about $29,028,000. 85.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Analog Devices Inc. (NASDAQ:ADI) traded down 0.23% during trading on Monday, reaching $64.30. The company had a trading volume of 1,508,650 shares. The company has a market capitalization of $19.77 billion, a PE ratio of 30.37 and a beta of 1.25. The stock’s 50-day moving average price is $62.94 and its 200-day moving average price is $59.53. Analog Devices Inc. has a 52 week low of $47.24 and a 52 week high of $66.91.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. Analog Devices had a return on equity of 19.40% and a net margin of 19.49%. The company earned $870 million during the quarter, compared to analysts’ expectations of $847.43 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Analog Devices Inc. will post $2.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Friday, August 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.68 dividend on an annualized basis and a yield of 2.61%. Analog Devices’s dividend payout ratio is currently 79.62%.
Several research firms have recently issued reports on ADI. B. Riley reissued a “buy” rating and set a $73.00 target price on shares of Analog Devices in a research note on Wednesday, July 27th. MKM Partners lifted their price target on Analog Devices from $56.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Wells Fargo & Co. restated a “buy” rating on shares of Analog Devices in a research report on Thursday, August 18th. Oppenheimer Holdings Inc. upgraded Analog Devices from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Wednesday, July 27th. Finally, Citigroup Inc. lowered Analog Devices from a “buy” rating to a “neutral” rating and lifted their price target for the company from $60.00 to $68.00 in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Analog Devices presently has an average rating of “Buy” and a consensus price target of $70.68.
In other news, SVP David Zinsner sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $64.33, for a total value of $964,950.00. Following the completion of the transaction, the senior vice president now owns 35,897 shares of the company’s stock, valued at approximately $2,309,254.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Eileen Wynne sold 2,504 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $64.25, for a total value of $160,882.00. Following the completion of the transaction, the vice president now directly owns 1,297 shares of the company’s stock, valued at approximately $83,332.25. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
About Analog Devices
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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