Madison Investment Holdings Inc. increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 122.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 504,506 shares of the semiconductor company’s stock after purchasing an additional 277,693 shares during the period. Madison Investment Holdings Inc. owned approximately 0.14% of Analog Devices worth $48,392,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ADI. Global X Management Co. LLC raised its holdings in Analog Devices by 16.6% in the 1st quarter. Global X Management Co. LLC now owns 33,478 shares of the semiconductor company’s stock valued at $3,051,000 after acquiring an additional 4,755 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Analog Devices by 6.6% in the 1st quarter. Wells Fargo & Company MN now owns 8,608,728 shares of the semiconductor company’s stock valued at $784,513,000 after acquiring an additional 532,620 shares during the last quarter. FTB Advisors Inc. raised its holdings in Analog Devices by 9.9% in the 1st quarter. FTB Advisors Inc. now owns 34,927 shares of the semiconductor company’s stock valued at $3,215,000 after acquiring an additional 3,140 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in Analog Devices in the 1st quarter valued at $301,000. Finally, Wedge Capital Management L L P NC acquired a new position in Analog Devices in the 1st quarter valued at $48,180,000. Institutional investors own 88.03% of the company’s stock.

In related news, SVP Peter Real sold 4,595 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $93.07, for a total value of $427,656.65. Following the completion of the sale, the senior vice president now directly owns 18,195 shares in the company, valued at approximately $1,693,408.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Joseph Hassett sold 17,150 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $97.95, for a total value of $1,679,842.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,050 shares of company stock valued at $7,712,311. 0.70% of the stock is owned by insiders.

Several brokerages have weighed in on ADI. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a report on Tuesday, July 17th. BidaskClub downgraded Analog Devices from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Deutsche Bank boosted their price target on Analog Devices from $87.00 to $93.00 and gave the company a “hold” rating in a report on Thursday, May 31st. Credit Suisse Group boosted their price target on Analog Devices from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, May 31st. Finally, Loop Capital assumed coverage on Analog Devices in a report on Thursday, June 21st. They issued a “buy” rating and a $117.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $104.63.

ADI stock opened at $94.58 on Monday. The firm has a market cap of $35.21 billion, a PE ratio of 20.04, a PEG ratio of 1.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.14. Analog Devices, Inc. has a 52 week low of $76.95 and a 52 week high of $103.59.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. Analog Devices had a return on equity of 20.34% and a net margin of 17.72%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. analysts forecast that Analog Devices, Inc. will post 5.8 earnings per share for the current fiscal year.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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

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