Rhumbline Advisers Sells 28,616 Shares of Analog Devices, Inc. $ADI

Rhumbline Advisers lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 921,813 shares of the semiconductor company’s stock after selling 28,616 shares during the period. Rhumbline Advisers’ holdings in Analog Devices were worth $219,410,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 529 shares during the period. Oak Thistle LLC bought a new position in Analog Devices during the 1st quarter valued at about $298,000. AE Wealth Management LLC raised its position in Analog Devices by 9.8% in the 1st quarter. AE Wealth Management LLC now owns 33,514 shares of the semiconductor company’s stock worth $6,759,000 after purchasing an additional 2,986 shares during the period. Pinnacle Associates Ltd. lifted its stake in Analog Devices by 12.9% in the first quarter. Pinnacle Associates Ltd. now owns 22,321 shares of the semiconductor company’s stock worth $4,501,000 after purchasing an additional 2,558 shares during the last quarter. Finally, Advisor OS LLC lifted its stake in Analog Devices by 17.8% in the first quarter. Advisor OS LLC now owns 1,326 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 200 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

ADI opened at $232.32 on Friday. The company has a market capitalization of $114.29 billion, a price-to-earnings ratio of 59.27, a PEG ratio of 1.98 and a beta of 1.09. The company has a current ratio of 2.32, a quick ratio of 1.79 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $258.13. The business’s fifty day simple moving average is $238.78 and its 200-day simple moving average is $234.53.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.10. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Analog Devices in a research report on Wednesday. Stifel Nicolaus set a $280.00 target price on Analog Devices in a research note on Friday. Benchmark boosted their target price on shares of Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, BNP Paribas assumed coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $278.42.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the sale, the director owned 142,571 shares in the company, valued at $32,821,269.91. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Martin Cotter sold 12,500 shares of Analog Devices stock in a transaction on Friday, September 5th. The shares were sold at an average price of $246.25, for a total value of $3,078,125.00. Following the completion of the transaction, the senior vice president owned 63,048 shares in the company, valued at $15,525,570. This represents a 16.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 59,750 shares of company stock worth $14,684,296. 0.33% of the stock is owned by company insiders.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.