Advisor Partners LLC Lowers Position in Analog Devices, Inc. (ADI)
Advisor Partners LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,203 shares of the semiconductor company’s stock after selling 749 shares during the period. Advisor Partners LLC’s holdings in Analog Devices were worth $638,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Analog Devices during the first quarter valued at approximately $100,000. Whittier Trust Co. of Nevada Inc. increased its position in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares in the last quarter. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co bought a new position in Analog Devices during the first quarter valued at approximately $114,000. Finally, Guardian Life Insurance Co. of America increased its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 78.87 on Tuesday. The company’s 50-day moving average is $79.61 and its 200 day moving average is $79.52. The company has a market cap of $28.95 billion, a PE ratio of 30.21 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.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, analysts anticipate that Analog Devices, Inc. will post $4.37 EPS for the current year.
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Several equities analysts have commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $97.00 price objective (up from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Instinet downgraded shares of Analog Devices from a “neutral” rating to a “reduce” rating and decreased their price objective for the company from $82.00 to $72.00 in a report on Friday, June 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $96.00 price objective (up from $93.00) on shares of Analog Devices in a report on Thursday, June 1st. Deutsche Bank AG reiterated a “hold” rating and issued a $84.00 price objective (up from $80.00) on shares of Analog Devices in a report on Thursday, June 1st. Finally, Stephens upgraded shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a report on Monday, April 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $89.92.
In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $80.28, for a total transaction of $240,840.00. Following the completion of the transaction, the senior vice president now owns 20,404 shares of the company’s stock, valued at approximately $1,638,033.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 47,500 shares of Analog Devices stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the transaction, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The disclosure for this sale can be found here. Insiders have sold a total of 61,086 shares of company stock valued at $5,202,514 in the last ninety days. 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.
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