Ngam Advisors L.P. Acquires 1,927 Shares of Analog Devices Inc. (ADI)
Ngam Advisors L.P. raised its position in shares of Analog Devices Inc. (NASDAQ:ADI) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,255 shares of the company’s stock after buying an additional 1,927 shares during the period. Ngam Advisors L.P.’s holdings in Analog Devices were worth $12,584,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Analog Devices by 40.2% in the third quarter. JPMorgan Chase & Co. now owns 13,513,568 shares of the company’s stock worth $870,948,000 after buying an additional 3,872,491 shares in the last quarter. Capital International Investors increased its position in shares of Analog Devices by 187.5% in the second quarter. Capital International Investors now owns 3,793,500 shares of the company’s stock worth $214,864,000 after buying an additional 2,473,800 shares in the last quarter. Tiverton Asset Management LLC increased its position in shares of Analog Devices by 1,410.4% in the second quarter. Tiverton Asset Management LLC now owns 680,032 shares of the company’s stock worth $16,300,000 after buying an additional 635,009 shares in the last quarter. First Pacific Advisors LLC increased its position in shares of Analog Devices by 12.7% in the second quarter. First Pacific Advisors LLC now owns 4,715,280 shares of the company’s stock worth $267,073,000 after buying an additional 529,910 shares in the last quarter. Finally, PGGM Investments acquired a new position in shares of Analog Devices during the second quarter worth $29,028,000. Institutional investors own 87.96% of the company’s stock.
Analog Devices Inc. (NASDAQ:ADI) traded up 0.59% during trading on Tuesday, reaching $74.60. The company had a trading volume of 1,191,995 shares. Analog Devices Inc. has a 12-month low of $47.24 and a 12-month high of $74.87. The firm has a market capitalization of $22.99 billion, a PE ratio of 27.03 and a beta of 1.18. The firm’s 50 day moving average price is $65.32 and its 200 day moving average price is $61.66.
Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 22nd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The firm earned $1 million during the quarter, compared to the consensus estimate of $941.92 million. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. Analysts anticipate that Analog Devices Inc. will post $3.40 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.26%. Analog Devices’s payout ratio is 60.87%.
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Several brokerages recently commented on ADI. B. Riley reissued a “buy” rating and issued a $87.00 price target on shares of Analog Devices in a research note on Monday. Deutsche Bank AG boosted their price target on Analog Devices from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, November 23rd. KeyCorp boosted their price target on Analog Devices from $77.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, November 23rd. MKM Partners boosted their price target on Analog Devices from $67.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, November 23rd. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $75.00 price target on shares of Analog Devices in a research note on Friday. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.97.
In other news, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $63.20, for a total transaction of $1,580,000.00. Following the completion of the sale, the director now directly owns 257,631 shares in the company, valued at approximately $16,282,279.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Hodgson sold 7,500 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total value of $483,150.00. Following the sale, the director now owns 18,485 shares of the company’s stock, valued at $1,190,803.70. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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