Systematic Financial Management LP Trims Holdings in Analog Devices, Inc. (ADI)

Systematic Financial Management LP lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 45.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,470 shares of the semiconductor company’s stock after selling 68,529 shares during the quarter. Systematic Financial Management LP’s holdings in Analog Devices were worth $6,416,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ADI. Lazard Asset Management LLC acquired a new position in Analog Devices during the first quarter worth $100,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Analog Devices by 51.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 475 shares during the period. Jacobus Wealth Management Inc. acquired a new position in Analog Devices during the first quarter worth $113,000. Heritage Trust Co acquired a new position in Analog Devices during the first quarter worth $114,000. Finally, Guardian Life Insurance Co. of America grew its holdings in Analog Devices by 18.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 86.72% of the company’s stock.

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A number of research analysts recently weighed in on ADI shares. Jefferies Group LLC reaffirmed a “buy” rating on shares of Analog Devices in a report on Monday, July 10th. BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Citigroup Inc. reaffirmed a “neutral” rating and set a $88.00 price objective (down previously from $91.00) on shares of Analog Devices in a report on Friday, September 1st. Raymond James Financial, Inc. started coverage on Analog Devices in a report on Friday, June 16th. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $92.00 price objective on shares of Analog Devices in a report on Friday, August 4th. Twelve equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $91.85.

In related news, SVP Joseph Hassett sold 11,280 shares of Analog Devices stock in a transaction on Friday, September 1st. The stock was sold at an average price of $83.76, for a total transaction of $944,812.80. Following the completion of the sale, the senior vice president now owns 23,019 shares of the company’s stock, valued at $1,928,071.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Evans acquired 14,000 shares of Analog Devices stock in a transaction that occurred on Friday, July 7th. The shares were purchased at an average cost of $78.28 per share, with a total value of $1,095,920.00. Following the transaction, the director now owns 67,540 shares of the company’s stock, valued at approximately $5,287,031.20. The disclosure for this purchase can be found here. In the last three months, insiders have sold 45,686 shares of company stock valued at $3,780,282. Insiders own 1.10% of the company’s stock.

Analog Devices, Inc. (NASDAQ:ADI) opened at 82.22 on Tuesday. Analog Devices, Inc. has a 52-week low of $59.54 and a 52-week high of $90.49. The company’s 50-day moving average price is $79.65 and its 200 day moving average price is $80.11. The stock has a market capitalization of $30.18 billion, a P/E ratio of 31.49 and a beta of 1.29.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. Analog Devices’s revenue for the quarter was up 64.9% compared to the same quarter last year. On average, equities research analysts anticipate that Analog Devices, Inc. will post $4.62 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. Analog Devices’s payout ratio is 86.12%.

Analog Devices Profile

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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