Analog Devices, Inc. (ADI) Position Trimmed by Rhumbline Advisers
Rhumbline Advisers trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 728,783 shares of the semiconductor company’s stock after selling 9,507 shares during the period. Rhumbline Advisers owned 0.20% of Analog Devices worth $62,799,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new position in shares of Analog Devices in the first quarter valued at $391,000. Gateway Investment Advisers LLC increased its holdings in shares of Analog Devices by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 401,641 shares of the semiconductor company’s stock valued at $31,248,000 after purchasing an additional 1,076 shares during the last quarter. Bank of The West acquired a new position in shares of Analog Devices in the second quarter valued at $1,337,000. Private Capital Advisors Inc. acquired a new position in shares of Analog Devices in the second quarter valued at $389,000. Finally, Trust Co. of Vermont increased its holdings in shares of Analog Devices by 8.3% in the second quarter. Trust Co. of Vermont now owns 35,491 shares of the semiconductor company’s stock valued at $2,762,000 after purchasing an additional 2,707 shares during the last quarter. Institutional investors and hedge funds own 86.42% of the company’s stock.
Analog Devices, Inc. (NASDAQ ADI) traded up $0.44 during mid-day trading on Tuesday, hitting $90.03. 2,428,800 shares of the stock were exchanged, compared to its average volume of 2,938,769. The company has a market capitalization of $32,939.35, a PE ratio of 20.93, a P/E/G 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 52-week low of $65.33 and a 52-week high of $92.96.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 64.9% compared to the same quarter last year. sell-side analysts forecast that Analog Devices, Inc. will post 4.6 EPS for the current fiscal year.
ADI has been the topic of several research reports. Royal Bank Of Canada upped their price objective on shares of Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, August 31st. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Tuesday, October 10th. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. Drexel Hamilton reissued a “buy” rating and issued a $105.00 target price on shares of Analog Devices in a research report on Wednesday, August 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $96.00 target price on shares of Analog Devices in a research report on Thursday, August 31st. Twelve equities research 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. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.65.
In other news, SVP Gregory N. Henderson sold 6,396 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.34, for a total value of $539,438.64. Following the completion of the transaction, the senior vice president now owns 10,327 shares of the company’s stock, valued at $870,979.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter Real sold 4,505 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $82.13, for a total value of $369,995.65. Following the completion of the transaction, the senior vice president now directly owns 13,531 shares of the company’s stock, valued at approximately $1,111,301.03. The disclosure for this sale can be found here. Insiders sold 135,994 shares of company stock valued at $11,604,048 in the last ninety days. 1.10% of the stock is currently owned by 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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