TIAA CREF Investment Management LLC reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,021,627 shares of the semiconductor company’s stock after selling 434,747 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.28% of Analog Devices worth $79,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. WBI Investments Inc. grew its stake in shares of Analog Devices by 56.8% during the 2nd quarter. WBI Investments Inc. now owns 86,930 shares of the semiconductor company’s stock worth $6,763,000 after acquiring an additional 31,498 shares in the last quarter. SVA Plumb Wealth Management LLC grew its stake in shares of Analog Devices by 8.3% during the 2nd quarter. SVA Plumb Wealth Management LLC now owns 18,717 shares of the semiconductor company’s stock worth $1,456,000 after acquiring an additional 1,427 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Analog Devices by 29.4% during the 2nd quarter. Fiera Capital Corp now owns 1,597,696 shares of the semiconductor company’s stock worth $124,301,000 after acquiring an additional 363,238 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Analog Devices by 11.2% during the 2nd quarter. Stephens Inc. AR now owns 47,890 shares of the semiconductor company’s stock worth $3,726,000 after acquiring an additional 4,839 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its stake in shares of Analog Devices by 11.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,866 shares of the semiconductor company’s stock worth $690,000 after acquiring an additional 889 shares in the last quarter. 86.72% of the stock is owned by institutional investors.

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In other Analog Devices news, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the sale, the director now owns 234,481 shares of the company’s stock, valued at approximately $19,579,163.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total value of $240,840.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,638,033.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,686 shares of company stock worth $5,867,782. Insiders own 1.10% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Argus raised their price target on shares of Analog Devices from $86.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Royal Bank Of Canada raised their price target on shares of Analog Devices from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Drexel Hamilton reissued a “buy” rating and issued a $105.00 target price (up from $93.00) on shares of Analog Devices in a research note on Wednesday, May 31st. B. Riley reissued a “buy” rating and issued a $110.00 target price on shares of Analog Devices in a research note on Saturday, September 2nd. Finally, BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Twelve research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Analog Devices currently has a consensus rating of “Buy” and an average price target of $91.85.

Analog Devices, Inc. (ADI) opened at 83.84 on Friday. The firm’s 50-day moving average price is $80.06 and its 200 day moving average price is $80.17. The firm has a market cap of $30.83 billion, a P/E ratio of 41.73 and a beta of 1.29. Analog Devices, Inc. has a 52 week low of $59.54 and a 52 week high of $90.49.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $0.82 EPS. The firm’s revenue was up 64.9% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post $4.62 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th will be issued a $0.45 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. Analog Devices’s payout ratio is currently 86.12%.

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

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