Carnick & Kubik Group LLC Acquires 7,091 Shares of Analog Devices, Inc. (NASDAQ:ADI)
Carnick & Kubik Group LLC raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 64.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,158 shares of the semiconductor company’s stock after buying an additional 7,091 shares during the period. Analog Devices comprises 1.6% of Carnick & Kubik Group LLC’s portfolio, making the stock its 20th largest position. Carnick & Kubik Group LLC’s holdings in Analog Devices were worth $1,413,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in Analog Devices during the second quarter worth $2,363,000. Global X Management Co. LLC increased its stake in Analog Devices by 22.3% in the second quarter. Global X Management Co. LLC now owns 15,294 shares of the semiconductor company’s stock worth $1,190,000 after buying an additional 2,786 shares during the period. BP PLC increased its stake in Analog Devices by 58.0% in the second quarter. BP PLC now owns 73,000 shares of the semiconductor company’s stock worth $5,679,000 after buying an additional 26,805 shares during the period. Retirement Systems of Alabama increased its stake in Analog Devices by 1.1% in the second quarter. Retirement Systems of Alabama now owns 177,948 shares of the semiconductor company’s stock worth $13,844,000 after buying an additional 2,022 shares during the period. Finally, IFP Advisors Inc increased its stake in Analog Devices by 4.1% in the second quarter. IFP Advisors Inc now owns 9,221 shares of the semiconductor company’s stock worth $717,000 after buying an additional 365 shares during the period. 87.76% of the stock is owned by institutional investors and hedge funds.
Analog Devices, Inc. (NASDAQ:ADI) opened at 77.98 on Thursday. The firm has a market cap of $28.62 billion, a PE ratio of 29.87 and a beta of 1.30. Analog Devices, Inc. has a one year low of $59.01 and a one year high of $90.49. The company’s 50-day moving average is $79.29 and its 200 day moving average is $79.67.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. Analog Devices’s quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. Equities analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
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A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 price target on shares of Analog Devices in a research note on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. B. Riley reissued a “buy” rating and set a $103.00 price target on shares of Analog Devices in a research note on Tuesday, June 27th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Analog Devices in a research note on Friday, June 16th. They set a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $89.92.
In other news, Director Bruce R. Evans bought 14,000 shares of Analog Devices stock in a transaction dated Friday, July 7th. The stock was purchased at an average price of $78.28 per share, for a total transaction of $1,095,920.00. Following the purchase, the director now directly owns 67,540 shares in the company, valued at approximately $5,287,031.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 47,500 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the completion of the sale, the chief executive officer now owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The disclosure for this sale can be found here. Insiders have sold a total of 61,086 shares of company stock valued at $5,202,514 in the last 90 days. 1.10% of the stock is currently owned by company 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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