Analog Devices, Inc. (ADI) Position Reduced by Alps Advisors Inc.
Alps Advisors Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 26.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,860 shares of the semiconductor company’s stock after selling 3,828 shares during the quarter. Alps Advisors Inc.’s holdings in Analog Devices were worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Analog Devices by 51.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 475 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Analog Devices in the 2nd quarter worth approximately $119,000. WFG Advisors LP lifted its holdings in shares of Analog Devices by 26.4% in the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 330 shares during the last quarter. Rockefeller Financial Services Inc. lifted its holdings in shares of Analog Devices by 7,478.3% in the 2nd quarter. Rockefeller Financial Services Inc. now owns 1,743 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 1,720 shares during the last quarter. Finally, Crow Point Partners LLC bought a new stake in shares of Analog Devices in the 3rd quarter worth approximately $140,000. Institutional investors and hedge funds own 86.42% of the company’s stock.
In other Analog Devices news, Director James Champy sold 12,500 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,125,000.00. Following the transaction, the director now owns 21,910 shares in the company, valued at approximately $1,971,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $77.81, for a total transaction of $233,430.00. Following the transaction, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,587,635.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,994 shares of company stock worth $11,604,048. 1.10% of the stock is currently owned by company insiders.
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Shares of Analog Devices, Inc. (NASDAQ:ADI) opened at $90.03 on Tuesday. The firm has a market cap of $32,939.35, a PE ratio of 20.93, a PEG ratio of 1.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.99 and a quick ratio of 1.52. Analog Devices, Inc. has a 1 year low of $65.33 and a 1 year high of $92.96.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. Analog Devices’s revenue was up 64.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. research analysts anticipate that Analog Devices, Inc. will post 4.6 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on ADI. Royal Bank Of Canada restated a “buy” rating and issued a $92.00 price objective on shares of Analog Devices in a report on Friday, August 4th. B. Riley restated a “buy” rating and issued a $110.00 price objective on shares of Analog Devices in a report on Sunday, August 27th. BidaskClub lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $97.00 price objective on shares of Analog Devices in a report on Monday, September 25th. Finally, Instinet upgraded shares of Analog Devices from a “reduce” rating to a “neutral” rating and boosted their price objective for the stock from $72.50 to $80.00 in a report on Thursday, August 31st. Twelve analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Analog Devices presently has an average rating of “Buy” and a consensus price target of $93.65.
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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