Rational Advisors LLC Acquires New Stake in Analog Devices, Inc. (ADI)
Rational Advisors LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, Holdings Channel reports. The institutional investor acquired 9,500 shares of the semiconductor company’s stock, valued at approximately $739,000.
Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in shares of Analog Devices during the first quarter worth about $100,000. Jacobus Wealth Management Inc. purchased a new stake in shares of Analog Devices during the first quarter worth about $113,000. Heritage Trust Co purchased a new stake in shares of Analog Devices during the first quarter worth about $114,000. Guardian Life Insurance Co. of America increased its stake in shares of 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 worth $115,000 after buying an additional 223 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of 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 worth $109,000 after buying an additional 475 shares in the last quarter. Institutional investors own 87.76% of the company’s stock.
Shares of Analog Devices, Inc. (ADI) opened at 78.04 on Friday. The firm has a market capitalization of $28.64 billion, a price-to-earnings ratio of 29.89 and a beta of 1.30. Analog Devices, Inc. has a one year low of $59.01 and a one year high of $90.49. The stock has a 50 day moving average of $79.11 and a 200-day moving average of $79.68.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted $0.64 EPS. The firm’s revenue was up 41.2% compared to the same quarter last year. On average, equities analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on ADI shares. Stephens upgraded shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a report on Monday, April 24th. Morgan Stanley restated an “overweight” rating and set a $93.00 price target on shares of Analog Devices in a report on Tuesday, May 9th. Zacks Investment Research downgraded shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, May 15th. Jefferies Group LLC restated a “buy” rating and set a $100.00 price target on shares of Analog Devices in a report on Monday, May 22nd. Finally, Credit Suisse Group restated a “buy” rating and set a $100.00 price target on shares of Analog Devices in a report on Friday, May 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $89.92.
In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $81.54, for a total transaction of $244,620.00. Following the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,663,742.16. The sale 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 stock was sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the sale, the chief executive officer now directly owns 61,484 shares in the company, 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 worth $5,202,514 over the last quarter. 1.10% of the stock is currently owned by 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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