Analog Devices Inc. (ADI) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. boosted its position in Analog Devices Inc. (NASDAQ:ADI) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 859,463 shares of the company’s stock after buying an additional 2,267 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Analog Devices were worth $48,680,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. bought a new position in shares of Analog Devices during the first quarter valued at approximately $105,000. Meeder Asset Management Inc. bought a new position in shares of Analog Devices during the first quarter valued at approximately $112,000. Quadrant Capital Group LLC boosted 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 during the period. Virginia Retirement System bought a new position in shares of Analog Devices during the first quarter valued at approximately $300,000. Finally, Creative Planning boosted its position in shares of Analog Devices by 31.6% in the second quarter. Creative Planning now owns 6,953 shares of the company’s stock valued at $394,000 after buying an additional 1,668 shares during the period. Institutional investors and hedge funds own 85.70% of the company’s stock.
Shares of Analog Devices Inc. (NASDAQ:ADI) traded down 0.58% on Monday, reaching $61.70. The company’s stock had a trading volume of 2,475,889 shares. The stock has a 50 day moving average of $62.70 and a 200-day moving average of $59.89. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 29.15 and a beta of 1.25. Analog Devices Inc. has a 12 month low of $47.24 and a 12 month high of $66.91.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $870 million for the quarter, compared to analysts’ expectations of $847.43 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, analysts anticipate that Analog Devices Inc. will post $2.92 EPS for the current year.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. B. Riley reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Analog Devices in a research report on Monday, August 15th. Citigroup Inc. cut their price objective on Analog Devices from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, August 18th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Analog Devices in a research report on Thursday, August 18th. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Analog Devices in a research report on Thursday, August 18th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Analog Devices has a consensus rating of “Buy” and an average price target of $70.64.
In related news, Director John C. Hodgson sold 7,500 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $64.42, for a total value of $483,150.00. Following the transaction, the director now owns 18,485 shares of the company’s stock, valued at $1,190,803.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Eileen Wynne sold 2,504 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $64.25, for a total value of $160,882.00. Following the completion of the transaction, the vice president now directly owns 1,297 shares in the company, valued at approximately $83,332.25. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by 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.
Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices Inc. (NASDAQ:ADI).
Receive News & Ratings for Analog Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices Inc. and related companies with MarketBeat.com's FREE daily email newsletter.