Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Point72 Hong Kong Ltd
Point72 Hong Kong Ltd boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 351.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,838 shares of the semiconductor company’s stock after acquiring an additional 2,210 shares during the period. Point72 Hong Kong Ltd’s holdings in Analog Devices were worth $337,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. State Street Corp raised its holdings in Analog Devices by 2.0% in the fourth quarter. State Street Corp now owns 15,151,609 shares of the semiconductor company’s stock valued at $1,800,617,000 after acquiring an additional 291,719 shares in the last quarter. Fiera Capital Corp boosted its holdings in Analog Devices by 3.4% in the 4th quarter. Fiera Capital Corp now owns 1,840,586 shares of the semiconductor company’s stock worth $218,735,000 after acquiring an additional 61,131 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in Analog Devices by 24.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,700,249 shares of the semiconductor company’s stock worth $202,058,000 after acquiring an additional 337,412 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Analog Devices by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,557,209 shares of the semiconductor company’s stock worth $185,059,000 after acquiring an additional 19,432 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Analog Devices by 1.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,427,641 shares of the semiconductor company’s stock worth $169,661,000 after acquiring an additional 19,280 shares during the period. Institutional investors own 86.96% of the company’s stock.
In other Analog Devices news, Director Bruce R. Evans acquired 2,631 shares of Analog Devices stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $90.32 per share, with a total value of $237,631.92. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $119.74, for a total value of $1,197,400.00. Following the completion of the sale, the chief executive officer now directly owns 23,770 shares of the company’s stock, valued at $2,846,219.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,843 shares of company stock valued at $5,623,586. 0.42% of the stock is owned by insiders.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.03. Analog Devices had a return on equity of 15.38% and a net margin of 21.06%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $1.33 earnings per share. The firm’s quarterly revenue was down 15.6% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 4.6 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 28th were paid a dividend of $0.62 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, February 27th. This represents a $2.48 annualized dividend and a yield of 2.63%. Analog Devices’s payout ratio is presently 48.16%.
A number of equities analysts have weighed in on the company. Loop Capital upped their price target on Analog Devices from $125.00 to $130.00 and gave the stock a “positive” rating in a report on Friday, November 29th. They noted that the move was a valuation call. Citigroup raised Analog Devices from a “neutral” rating to a “buy” rating and upped their target price for the company from $115.00 to $144.00 in a report on Thursday, February 20th. Cfra reissued a “hold” rating and issued a $125.00 price objective on shares of Analog Devices in a research note on Thursday, February 20th. Zacks Investment Research raised Analog Devices from a “sell” rating to a “hold” rating and set a $131.00 price objective for the company in a research note on Friday, February 21st. Finally, Oppenheimer increased their price objective on Analog Devices from to and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Analog Devices has a consensus rating of “Buy” and an average target price of $127.68.
Analog Devices 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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