PNC Financial Services Group Inc. grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,958 shares of the semiconductor company’s stock after acquiring an additional 2,888 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Analog Devices were worth $16,428,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. CWS Financial Advisors LLC lifted its position in shares of Analog Devices by 31.7% during the 2nd quarter. CWS Financial Advisors LLC now owns 5,862 shares of the semiconductor company’s stock valued at $719,000 after buying an additional 1,410 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $202,000. Robecosam AG increased its position in shares of Analog Devices by 9.0% during the 2nd quarter. Robecosam AG now owns 449,000 shares of the semiconductor company’s stock valued at $55,065,000 after purchasing an additional 37,000 shares during the last quarter. Private Trust Co. NA increased its position in shares of Analog Devices by 7.7% during the 2nd quarter. Private Trust Co. NA now owns 16,867 shares of the semiconductor company’s stock valued at $2,085,000 after purchasing an additional 1,208 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its position in Analog Devices by 5.8% in the 2nd quarter. First Republic Investment Management Inc. now owns 62,281 shares of the semiconductor company’s stock valued at $7,638,000 after acquiring an additional 3,436 shares during the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.
Several equities research analysts have weighed in on ADI shares. Edward Jones cut Analog Devices from a “buy” rating to a “hold” rating in a report on Tuesday, July 14th. Goldman Sachs Group upped their target price on Analog Devices from $142.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Zacks Investment Research lowered Analog Devices from a “buy” rating to a “hold” rating and set a $119.00 price objective on the stock. in a report on Monday, September 14th. BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a report on Friday, July 24th. Finally, Bank of America reaffirmed a “buy” rating and set a $145.00 target price on shares of Analog Devices in a report on Tuesday, July 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. Analog Devices presently has an average rating of “Buy” and an average target price of $127.35.
In related news, SVP Joseph Hassett sold 11,128 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $119.46, for a total value of $1,329,350.88. Also, CEO Vincent Roche sold 27,500 shares of Analog Devices stock in a transaction on Friday, September 4th. The shares were sold at an average price of $115.13, for a total transaction of $3,166,075.00. Following the sale, the chief executive officer now directly owns 24,207 shares of the company’s stock, valued at approximately $2,786,951.91. The disclosure for this sale can be found here. Insiders have sold 54,309 shares of company stock worth $6,390,004 in the last quarter. Company insiders own 0.42% of the company’s stock.
Shares of Analog Devices stock opened at $114.91 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.47 and a quick ratio of 1.11. Analog Devices, Inc. has a 1-year low of $79.07 and a 1-year high of $127.39. The business has a 50-day moving average of $116.83 and a 200-day moving average of $110.61. The company has a market capitalization of $42.42 billion, a PE ratio of 38.56, a P/E/G ratio of 1.80 and a beta of 1.29.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 19th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.03. Analog Devices had a net margin of 20.14% and a return on equity of 14.80%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company posted $1.26 earnings per share. Analog Devices’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post 4.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Friday, August 28th were paid a dividend of $0.62 per share. The ex-dividend date was Thursday, August 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.16%. Analog Devices’s dividend payout ratio is presently 48.16%.
About Analog Devices
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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