QCI Asset Management Inc. NY lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 42.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,350 shares of the semiconductor company’s stock after purchasing an additional 400 shares during the period. QCI Asset Management Inc. NY’s holdings in Analog Devices were worth $152,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Lenox Wealth Advisors LLC purchased a new stake in Analog Devices in the second quarter worth about $28,000. Berman Capital Advisors LLC lifted its holdings in Analog Devices by 43.8% in the first quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $31,000 after buying an additional 91 shares during the period. Tortoise Investment Management LLC purchased a new stake in Analog Devices in the second quarter worth about $34,000. Mcmillion Capital Management Inc. purchased a new stake in Analog Devices in the second quarter worth about $44,000. Finally, BSW Wealth Partners purchased a new stake in Analog Devices in the second quarter worth about $60,000. Institutional investors own 87.52% of the company’s stock.
Shares of ADI traded up $0.17 on Wednesday, hitting $115.45. 8,440 shares of the stock traded hands, compared to its average volume of 2,079,679. The company has a market capitalization of $43.04 billion, a PE ratio of 19.43, a P/E/G ratio of 1.81 and a beta of 1.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.35. The business has a 50 day simple moving average of $111.45 and a 200 day simple moving average of $110.00. Analog Devices, Inc. has a one year low of $76.62 and a one year high of $124.79.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, August 29th. Analog Devices’s dividend payout ratio (DPR) is presently 36.36%.
In other news, SVP Joseph Hassett sold 10,544 shares of Analog Devices stock in a transaction on Friday, September 13th. The shares were sold at an average price of $116.72, for a total transaction of $1,230,695.68. Following the transaction, the senior vice president now owns 34,360 shares in the company, valued at approximately $4,010,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Champy sold 8,260 shares of Analog Devices stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $121.02, for a total transaction of $999,625.20. Following the transaction, the director now owns 17,390 shares in the company, valued at approximately $2,104,537.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,486 shares of company stock valued at $6,466,849. 0.50% of the stock is currently owned by insiders.
ADI has been the subject of several research analyst reports. Morgan Stanley raised their price objective on shares of Analog Devices from $97.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, August 22nd. Piper Jaffray Companies raised their price objective on shares of Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Goldman Sachs Group upgraded shares of Analog Devices from a “sell” rating to a “buy” rating and raised their price objective for the stock from $101.00 to $114.00 in a report on Monday, June 10th. SunTrust Banks lowered their price objective on shares of Analog Devices to $122.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Zacks Investment Research lowered shares of Analog Devices from a “hold” rating to a “strong sell” rating and set a $102.00 price objective for the company. in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $111.67.
Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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