Los Angeles Capital Management LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 320,922 shares of the semiconductor company's stock after selling 33,623 shares during the period. Los Angeles Capital Management LLC owned about 0.06% of Analog Devices worth $73,867,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in Analog Devices during the first quarter worth approximately $537,171,000. Vanguard Group Inc. raised its stake in Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company's stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Analog Devices by 17,535,360.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock valued at $346,834,000 after acquiring an additional 1,753,536 shares during the last quarter. Raymond James & Associates boosted its stake in Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock valued at $540,463,000 after acquiring an additional 1,422,054 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.
Analyst Upgrades and Downgrades
ADI has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Barclays raised their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Finally, Oppenheimer reiterated an "outperform" rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $249.80.
Read Our Latest Stock Report on ADI
Insider Transactions at Analog Devices
In other Analog Devices news, Director Edward H. Frank sold 995 shares of the company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares of the company's stock, valued at approximately $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company's stock, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock valued at $25,229,958 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.
Analog Devices Price Performance
Shares of Analog Devices stock traded down $1.97 during trading on Friday, reaching $225.80. The company's stock had a trading volume of 3,426,964 shares, compared to its average volume of 2,521,661. The business has a 50 day moving average price of $226.61 and a 200-day moving average price of $224.63. Analog Devices, Inc. has a 12-month low of $166.78 and a 12-month high of $244.14. The company has a market capitalization of $112.11 billion, a P/E ratio of 67.81, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business's revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.
Analog Devices Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is 110.51%.
Analog Devices Profile
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Free Report)
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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