Pictet Asset Management Ltd. lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 206,875 shares of the semiconductor company’s stock after selling 5,800 shares during the period. Pictet Asset Management Ltd.’s holdings in Analog Devices were worth $17,741,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock worth $1,888,562,000 after buying an additional 22,366,040 shares during the period. Vanguard Group Inc. boosted its stake in shares of Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Analog Devices by 84.6% in the first quarter. First Eagle Investment Management LLC now owns 6,520,656 shares of the semiconductor company’s stock worth $534,368,000 after buying an additional 2,987,637 shares during the period. FMR LLC boosted its stake in shares of Analog Devices by 52.2% in the first quarter. FMR LLC now owns 7,757,023 shares of the semiconductor company’s stock worth $635,689,000 after buying an additional 2,661,277 shares during the period. Finally, State Street Corp boosted its stake in shares of Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock worth $1,225,852,000 after buying an additional 2,493,568 shares during the period. Institutional investors and hedge funds own 87.76% of the company’s stock.

Shares of Analog Devices, Inc. (NASDAQ:ADI) opened at 78.04 on Friday. The stock has a 50 day moving average of $79.11 and a 200-day moving average of $79.68. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49. The firm has a market capitalization of $28.64 billion, a P/E ratio of 29.89 and a beta of 1.30.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.10 billion. During the same period last year, the business earned $0.64 EPS. Analog Devices’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 EPS for the current fiscal year.

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Several equities research analysts have weighed in on the stock. BidaskClub cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Royal Bank Of Canada restated a “buy” rating and issued a $92.00 price objective on shares of Analog Devices in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. B. Riley restated a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a research report on Tuesday, June 27th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Analog Devices in a research report on Friday, June 16th. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Buy” and a consensus price target of $89.92.

In related news, Director Bruce R. Evans purchased 14,000 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was acquired at an average cost of $78.28 per share, with a total value of $1,095,920.00. Following the transaction, the director now owns 67,540 shares of the company’s stock, valued at approximately $5,287,031.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 47,500 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at $5,318,366. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,086 shares of company stock worth $5,202,514. 1.10% of the stock is owned by company insiders.

About Analog Devices

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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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