Zurich Insurance Group Ltd FI Increases Position in Analog Devices, Inc. (ADI)

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Zurich Insurance Group Ltd FI boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 43.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 105,507 shares of the semiconductor company’s stock after buying an additional 32,183 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Analog Devices were worth $10,120,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Washington Trust Bank grew its position in shares of Analog Devices by 127.7% during the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 600 shares in the last quarter. Fort L.P. acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $117,000. Integrated Investment Consultants LLC acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $130,000. Clarus Wealth Advisors acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $139,000. Finally, Summit Trail Advisors LLC grew its position in shares of Analog Devices by 6,966.6% during the 1st quarter. Summit Trail Advisors LLC now owns 147,410 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 145,324 shares in the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.

Several analysts recently issued reports on the stock. B. Riley reduced their price target on shares of Analog Devices from $122.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, May 31st. SunTrust Banks reiterated a “buy” rating and set a $118.00 price target on shares of Analog Devices in a research report on Thursday, August 30th. Sanford C. Bernstein increased their price target on shares of Analog Devices from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 31st. Oppenheimer increased their price target on shares of Analog Devices from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 30th. Finally, BidaskClub lowered shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $107.00.

In other news, Director Kenton J. Sicchitano sold 7,210 shares of the firm’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $95.06, for a total transaction of $685,382.60. Following the completion of the transaction, the director now owns 27,450 shares of the company’s stock, valued at $2,609,397. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $95.04, for a total transaction of $950,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 106,655 shares of company stock valued at $10,425,833. 1.10% of the stock is owned by insiders.

Shares of NASDAQ:ADI opened at $92.40 on Friday. The company has a market capitalization of $33.83 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.25 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60. Analog Devices, Inc. has a one year low of $80.95 and a one year high of $103.59.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.07. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.51 billion. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS. research analysts forecast that Analog Devices, Inc. will post 5.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Friday, August 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.08%. The ex-dividend date was Thursday, August 30th. Analog Devices’s payout ratio is 40.68%.

Analog Devices declared that its board has initiated a stock buyback plan on Tuesday, August 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

About Analog Devices

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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

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