Warren Averett Asset Management LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,723 shares of the semiconductor company’s stock after selling 1,144 shares during the period. Warren Averett Asset Management LLC’s holdings in Analog Devices were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ADI. Hall Laurie J Trustee raised its position in Analog Devices by 2.1% in the first quarter. Hall Laurie J Trustee now owns 16,161 shares of the semiconductor company’s stock valued at $1,294,000 after buying an additional 336 shares during the period. Marathon Asset Management LLP boosted its position in shares of Analog Devices by 35.8% in the first quarter. Marathon Asset Management LLP now owns 791,717 shares of the semiconductor company’s stock valued at $64,881,000 after buying an additional 208,825 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Analog Devices by 13.0% in the first quarter. Capstone Asset Management Co. now owns 122,607 shares of the semiconductor company’s stock valued at $10,048,000 after buying an additional 14,138 shares during the last quarter. National Pension Service boosted its position in shares of Analog Devices by 11.8% in the first quarter. National Pension Service now owns 309,725 shares of the semiconductor company’s stock valued at $25,459,000 after buying an additional 32,811 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Analog Devices by 7.6% in the first quarter. Quadrant Capital Group LLC now owns 2,598 shares of the semiconductor company’s stock valued at $203,000 after buying an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.

Shares of Analog Devices, Inc. (ADI) opened at 77.78 on Friday. The firm has a market cap of $28.55 billion, a PE ratio of 29.79 and a beta of 1.30. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49. The firm has a 50-day moving average price of $79.61 and a 200-day moving average price of $79.52.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.18. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities research analysts predict that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Analog Devices, Inc. (ADI) Position Cut by Warren Averett Asset Management LLC” was reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/05/analog-devices-inc-adi-position-cut-by-warren-averett-asset-management-llc.html.

ADI has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $92.00 price target on shares of Analog Devices in a research report on Friday. Jefferies Group LLC reaffirmed a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. B. Riley reaffirmed a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research report on Tuesday, June 27th. 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, UBS AG reiterated a “neutral” rating and set a $94.00 price target (up previously from $83.00) on shares of Analog Devices in a report on Saturday, June 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Analog Devices presently has an average rating of “Buy” and an average target price of $89.92.

In related news, Director Bruce R. Evans bought 14,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were bought at an average cost of $78.28 per share, with a total value of $1,095,920.00. Following the acquisition, the director now owns 67,540 shares in the company, valued at $5,287,031.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $81.54, for a total value of $244,620.00. Following the completion of the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at $1,663,742.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,086 shares of company stock worth $5,202,514. Company insiders own 1.10% of the company’s stock.

Analog Devices Company 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.

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).

Institutional Ownership by Quarter for Analog Devices (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.