18,331 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,331 shares of the semiconductor company’s stock, valued at approximately $4,219,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in Analog Devices by 24.9% during the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after purchasing an additional 6,314 shares during the period. BDF Gestion bought a new position in Analog Devices during the second quarter worth about $4,491,000. Envestnet Portfolio Solutions Inc. lifted its stake in Analog Devices by 3.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock worth $16,912,000 after purchasing an additional 2,280 shares during the period. Interval Partners LP bought a new position in Analog Devices during the first quarter worth about $1,978,000. Finally, Impax Asset Management Group plc lifted its stake in Analog Devices by 7.7% during the third quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock worth $352,728,000 after purchasing an additional 110,448 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,495 shares of company stock worth $25,229,958. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Barclays lifted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Price Performance

ADI opened at $227.77 on Friday. The company has a fifty day simple moving average of $226.85 and a 200 day simple moving average of $224.09. The stock has a market cap of $113.09 billion, a P/E ratio of 68.40, a P/E/G ratio of 3.14 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $166.78 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 EPS. On average, research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.