Analog Devices, Inc. (ADI) Shares Bought by Quest Investment Management LLC
Quest Investment Management LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,299 shares of the semiconductor company’s stock after purchasing an additional 7,166 shares during the quarter. Quest Investment Management LLC’s holdings in Analog Devices were worth $12,498,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Home Federal Bank of Tennessee bought a new stake in shares of Analog Devices during the second quarter valued at approximately $2,067,000. Jones Financial Companies Lllp increased its holdings in shares of Analog Devices by 101.0% during the first quarter. Jones Financial Companies Lllp now owns 35,053 shares of the semiconductor company’s stock valued at $3,194,000 after acquiring an additional 17,614 shares in the last quarter. Norinchukin Bank The increased its holdings in shares of Analog Devices by 16.7% during the first quarter. Norinchukin Bank The now owns 35,014 shares of the semiconductor company’s stock valued at $3,191,000 after acquiring an additional 5,010 shares in the last quarter. Tdam USA Inc. increased its holdings in shares of Analog Devices by 8.0% during the second quarter. Tdam USA Inc. now owns 15,109 shares of the semiconductor company’s stock valued at $1,449,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of Analog Devices by 1.9% during the second quarter. Raymond James Trust N.A. now owns 58,732 shares of the semiconductor company’s stock valued at $5,633,000 after acquiring an additional 1,099 shares in the last quarter. Institutional investors and hedge funds own 88.33% of the company’s stock.
In other Analog Devices news, SVP Peter Real sold 4,595 shares of the business’s 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 transaction, the senior vice president now owns 18,195 shares of the company’s stock, valued at $1,693,408.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $96.89, for a total value of $968,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 80,050 shares of company stock worth $7,712,311. Insiders own 1.10% of the company’s stock.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. research analysts predict that Analog Devices, Inc. will post 5.8 earnings per share for the current year.
Several equities research analysts have recently commented on the company. BidaskClub downgraded Analog Devices from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Loop Capital assumed coverage on Analog Devices in a report on Thursday, June 21st. They set a “buy” rating and a $117.00 price target for the company. Nomura assumed coverage on Analog Devices in a report on Wednesday, July 18th. They set a “neutral” rating and a $100.00 price target for the company. Morgan Stanley upped their price target on Analog Devices from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 31st. Finally, Piper Jaffray Companies upped their price target on Analog Devices from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, May 31st. Nine investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $104.63.
Analog Devices 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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