Municipal Employees Retirement System of Michigan maintained its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,742 shares of the semiconductor company’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in Analog Devices were worth $914,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Analog Devices during the first quarter valued at approximately $100,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of 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. bought a new stake in shares of Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co bought a new stake in shares of Analog Devices during the first quarter valued at approximately $114,000. Finally, Guardian Life Insurance Co. of America increased its stake in shares of 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 owned by hedge funds and other institutional investors.

Analog Devices, Inc. (NASDAQ:ADI) opened at 78.04 on Friday. The company has a market capitalization of $28.64 billion, a price-to-earnings ratio of 29.89 and a beta of 1.30. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49. The stock has a 50 day moving average price of $79.11 and a 200-day moving average price of $79.68.

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

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

In other news, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $81.54, for a total transaction of $244,620.00. Following the completion of the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at approximately $1,663,742.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 47,500 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the sale, the chief executive officer now directly 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 three months, insiders have sold 61,086 shares of company stock valued at $5,202,514. Insiders own 1.10% of the company’s stock.

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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