Pictet Asset Management Ltd. lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 490,609 shares of the semiconductor company’s stock after acquiring an additional 23,541 shares during the period. Pictet Asset Management Ltd.’s holdings in Analog Devices were worth $55,375,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Lenox Wealth Advisors LLC acquired a new stake in Analog Devices in the second quarter valued at approximately $28,000. Berman Capital Advisors LLC lifted its position in shares of Analog Devices by 43.8% during the first quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 91 shares in the last quarter. Tortoise Investment Management LLC acquired a new position in shares of Analog Devices during the second quarter worth $34,000. Mcmillion Capital Management Inc. purchased a new position in shares of Analog Devices in the second quarter valued at $44,000. Finally, Hanson McClain Inc. boosted its stake in shares of Analog Devices by 44.8% in the first quarter. Hanson McClain Inc. now owns 459 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 142 shares during the period. 87.52% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on ADI shares. Piper Jaffray Companies lifted their price target on shares of Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. SunTrust Banks decreased their price objective on shares of Analog Devices to $122.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a research note on Saturday, August 31st. ValuEngine raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada dropped their target price on Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.11.
In related news, SVP Joseph Hassett sold 10,040 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $109.38, for a total transaction of $1,098,175.20. Following the sale, the senior vice president now owns 32,400 shares in the company, valued at $3,543,912. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Champy sold 8,260 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $121.02, for a total transaction of $999,625.20. Following the sale, 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 71,862 shares of company stock valued at $7,978,717. 0.50% of the stock is currently owned by corporate insiders.
NASDAQ:ADI traded up $1.08 during trading hours on Wednesday, reaching $115.06. 143,143 shares of the stock were exchanged, compared to its average volume of 2,198,855. The stock has a market capitalization of $41.69 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.75 and a beta of 1.43. The firm has a 50 day simple moving average of $112.15 and a 200-day simple moving average of $109.72. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. Analog Devices, Inc. has a 52 week low of $76.62 and a 52 week high of $124.79.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.04. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Analog Devices had a return on equity of 17.87% and a net margin of 24.71%. The business’s revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 EPS. As a group, analysts expect that Analog Devices, Inc. will post 5.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, August 29th. Analog Devices’s dividend payout ratio is presently 36.36%.
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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