Daiwa Securities Group Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 23.2% during the second quarter, Holdings Channel reports. The institutional investor owned 12,743 shares of the semiconductor company’s stock after selling 3,848 shares during the period. Daiwa Securities Group Inc.’s holdings in Analog Devices were worth $992,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ADI. Lazard Asset Management LLC acquired a new position in Analog Devices during the first quarter valued at about $100,000. Whittier Trust Co. of Nevada Inc. boosted its position in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares during the period. Jacobus Wealth Management Inc. acquired a new position in Analog Devices during the first quarter valued at about $113,000. Heritage Trust Co acquired a new position in Analog Devices during the first quarter valued at about $114,000. Finally, Guardian Life Insurance Co. of America boosted its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the period. 87.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Analog Devices, Inc. (NASDAQ:ADI) opened at 76.83 on Friday. The firm has a 50-day moving average price of $79.20 and a 200-day moving average price of $79.65. The stock 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.

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 during the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The company’s revenue was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, equities analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

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Several equities analysts recently issued reports on ADI shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $97.00 price objective (up from $95.00) on shares of Analog Devices in a research report on Thursday, June 1st. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 price objective (up from $93.00) on shares of Analog Devices in a research report on Wednesday, May 31st. B. Riley reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a research report on Tuesday, May 30th. Credit Suisse Group reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research report on Friday, May 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research report on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Analog Devices presently has a consensus rating of “Buy” and an average price target of $89.92.

In other news, Director Bruce R. Evans acquired 14,000 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was acquired at an average price of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the transaction, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The acquisition 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 dated 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 transaction, 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. In the last quarter, insiders sold 61,086 shares of company stock valued at $5,202,514. Insiders own 1.10% of the company’s stock.

Analog Devices Company Profile

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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