Pioneer Investment Management Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the second quarter, Holdings Channel reports. The fund owned 1,723,871 shares of the semiconductor company’s stock after selling 116,251 shares during the period. Pioneer Investment Management Inc.’s holdings in Analog Devices were worth $134,118,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. CENTRAL TRUST Co raised its position in Analog Devices by 7.5% in the first quarter. CENTRAL TRUST Co now owns 2,333 shares of the semiconductor company’s stock worth $191,000 after buying an additional 162 shares during the period. Creative Planning raised its position in Analog Devices by 33.0% in the first quarter. Creative Planning now owns 11,776 shares of the semiconductor company’s stock worth $965,000 after buying an additional 2,919 shares during the period. Exxonmobil Investment Management Inc. TX raised its position in Analog Devices by 13.3% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 80,822 shares of the semiconductor company’s stock worth $6,623,000 after buying an additional 9,491 shares during the period. Gulf International Bank UK Ltd raised its position in Analog Devices by 20.7% in the first quarter. Gulf International Bank UK Ltd now owns 112,570 shares of the semiconductor company’s stock worth $9,225,000 after buying an additional 19,287 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Analog Devices by 7.6% in the first quarter. Quadrant Capital Group LLC now owns 2,598 shares of the semiconductor company’s stock worth $203,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors own 87.76% of the company’s stock.

Analog Devices, Inc. (ADI) opened at 78.87 on Tuesday. The company has a 50 day moving average of $79.61 and a 200 day moving average of $79.52. The stock has a market capitalization of $28.95 billion, a P/E 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 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.18. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $0.64 EPS. Equities analysts expect that Analog Devices, Inc. will post $4.37 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Pioneer Investment Management Inc. Sells 116,251 Shares of Analog Devices, Inc. (ADI)” was first published by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://www.dailypolitical.com/2017/08/08/pioneer-investment-management-inc-sells-116251-shares-of-analog-devices-inc-adi.html.

A number of research firms have recently commented on ADI. Stifel Nicolaus restated a “buy” rating and issued a $97.00 price objective (up from $95.00) on shares of Analog Devices in a research report on Thursday, June 1st. Instinet lowered shares of Analog Devices from a “neutral” rating to a “reduce” rating and cut their price objective for the company from $82.00 to $72.00 in a research report on Friday, June 2nd. Morgan Stanley restated an “overweight” rating and issued a $96.00 price objective (up from $93.00) on shares of Analog Devices in a research report on Thursday, June 1st. Deutsche Bank AG restated a “hold” rating and issued a $84.00 price objective (up from $80.00) on shares of Analog Devices in a research report on Thursday, June 1st. Finally, Stephens upgraded shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.92.

In related news, SVP Peter Real sold 4,505 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $80.07, for a total value of $360,715.35. Following the completion of the sale, the senior vice president now directly owns 13,531 shares in the company, valued at $1,083,427.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 47,500 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total value of $4,108,750.00. Following the completion of the sale, the chief executive officer now owns 61,484 shares of the company’s stock, valued at $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 over the last quarter. Corporate 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.