Cigna Investments Inc. New lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 5.0% during the second quarter, Holdings Channel reports. The firm owned 14,171 shares of the semiconductor company’s stock after selling 748 shares during the period. Cigna Investments Inc. New’s holdings in Analog Devices were worth $1,103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock worth $1,888,562,000 after buying an additional 22,366,040 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Analog Devices by 84.6% in the first quarter. First Eagle Investment Management LLC now owns 6,520,656 shares of the semiconductor company’s stock worth $534,368,000 after buying an additional 2,987,637 shares during the last quarter. FMR LLC raised its position in shares of Analog Devices by 52.2% in the first quarter. FMR LLC now owns 7,757,023 shares of the semiconductor company’s stock worth $635,689,000 after buying an additional 2,661,277 shares during the last quarter. Finally, State Street Corp raised its position in shares of Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock worth $1,225,852,000 after buying an additional 2,493,568 shares during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.

Analog Devices, Inc. (ADI) opened at 76.83 on Friday. The firm has a market cap of $28.20 billion, a price-to-earnings ratio of 29.43 and a beta of 1.30. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49. The stock’s 50 day moving average price is $79.20 and its 200 day moving average price is $79.65.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.18. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. Analog Devices’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. On average, equities research analysts predict that Analog Devices, Inc. will post $4.37 EPS for the current year.

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A number of research analysts recently commented on ADI shares. Zacks Investment Research lowered Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. Stephens upgraded Analog Devices from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $93.00 target price on shares of Analog Devices in a research note on Tuesday, May 9th. Credit Suisse Group restated a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research note on Friday, May 26th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $90.00 target price (up from $87.00) on shares of Analog Devices in a research note on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $89.92.

In related news, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $81.54, for a total transaction of $244,620.00. Following the sale, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,663,742.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter Real sold 4,505 shares of the business’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $80.07, for a total value of $360,715.35. Following the sale, the senior vice president now owns 13,531 shares in the company, valued at approximately $1,083,427.17. The disclosure for this sale can be found here. Insiders have sold a total of 61,086 shares of company stock worth $5,202,514 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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

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