Analog Devices, Inc. (ADI) Position Cut by Cadence Capital Management LLC
Cadence Capital Management LLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,462 shares of the semiconductor company’s stock after selling 2,156 shares during the quarter. Cadence Capital Management LLC’s holdings in Analog Devices were worth $2,979,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in ADI. Sit Investment Associates Inc. grew its stake in Analog Devices by 381.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,275 shares of the semiconductor company’s stock worth $114,000 after buying an additional 1,010 shares during the period. WFG Advisors LP grew its stake in Analog Devices by 26.4% during the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after buying an additional 330 shares during the period. Fieldpoint Private Securities LLC grew its stake in Analog Devices by 91.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock worth $127,000 after buying an additional 705 shares during the period. Clear Perspective Advisors LLC grew its stake in Analog Devices by 3,884.2% during the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock worth $130,000 after buying an additional 1,476 shares during the period. Finally, Cerebellum GP LLC purchased a new stake in Analog Devices during the fourth quarter worth approximately $130,000. Hedge funds and other institutional investors own 86.20% of the company’s stock.
Several equities research analysts have issued reports on ADI shares. Jefferies Group boosted their price objective on shares of Analog Devices to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Stifel Nicolaus decreased their price objective on shares of Analog Devices from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. B. Riley boosted their price objective on shares of Analog Devices from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Finally, KeyCorp reiterated a “buy” rating and set a $107.00 price objective on shares of Analog Devices in a research note on Friday, November 24th. Eleven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Analog Devices currently has an average rating of “Buy” and an average target price of $97.21.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.09. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The firm’s quarterly revenue was up 53.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. equities analysts predict that Analog Devices, Inc. will post 5.2 EPS for the current fiscal year.
In related news, SVP Jean Philibert sold 5,098 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $90.24, for a total value of $460,043.52. Following the sale, the senior vice president now directly owns 5,098 shares of the company’s stock, valued at $460,043.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Yusuf Jamal sold 718 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $90.89, for a total transaction of $65,259.02. The disclosure for this sale can be found here. Insiders sold 186,061 shares of company stock worth $16,163,741 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
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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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