Analog Devices Inc. (ADI) Stake Reduced by FTB Advisors Inc.
FTB Advisors Inc. cut its position in shares of Analog Devices Inc. (NASDAQ:ADI) by 9.2% during the second quarter, Holdings Channel reports. The fund owned 8,436 shares of the company’s stock after selling 858 shares during the period. FTB Advisors Inc.’s holdings in Analog Devices were worth $477,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. NN Investment Partners Holdings N.V. acquired a new position in shares of Analog Devices during the first quarter valued at about $105,000. Meeder Asset Management Inc. acquired a new position in shares of Analog Devices during the first quarter valued at about $112,000. Quadrant Capital Group LLC increased its position in shares of Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock valued at $131,000 after buying an additional 384 shares in the last quarter. Signaturefd LLC increased its position in shares of Analog Devices by 347.0% in the second quarter. Signaturefd LLC now owns 2,977 shares of the company’s stock valued at $169,000 after buying an additional 2,311 shares in the last quarter. Finally, Virginia Retirement System acquired a new position in shares of Analog Devices during the first quarter valued at about $300,000. Institutional investors own 85.71% of the company’s stock.
Analog Devices Inc. (NASDAQ:ADI) traded up 2.16% on Friday, reaching $62.02. 2,988,884 shares of the company’s stock were exchanged. Analog Devices Inc. has a 12 month low of $47.24 and a 12 month high of $66.91. The firm has a market cap of $19.07 billion, a PE ratio of 29.30 and a beta of 1.25. The firm’s 50-day moving average is $62.72 and its 200-day moving average is $59.86.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.07. The company had revenue of $870 million for the quarter, compared to analyst estimates of $847.43 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. On average, equities analysts forecast that Analog Devices Inc. will post $2.92 earnings per share for the current year.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, October 5th. B. Riley reiterated a “buy” rating and set a $73.00 price objective on shares of Analog Devices in a research report on Wednesday, July 27th. MKM Partners boosted their price objective on Analog Devices from $56.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Wells Fargo & Co. reiterated a “buy” rating on shares of Analog Devices in a research report on Thursday, August 18th. Finally, Oppenheimer Holdings Inc. upgraded Analog Devices from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Wednesday, July 27th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $70.64.
In related news, Director John C. Hodgson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total transaction of $483,150.00. Following the sale, the director now directly owns 18,485 shares in the company, valued at $1,190,803.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 50,000 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $64.06, for a total transaction of $3,203,000.00. Following the sale, the director now owns 257,631 shares in the company, valued at $16,503,841.86. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
About Analog Devices
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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