TD Asset Management Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 418,198 shares of the semiconductor company’s stock after selling 13,737 shares during the period. TD Asset Management Inc.’s holdings in Analog Devices were worth $32,536,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. British Columbia Investment Management Corp increased its stake in shares of Analog Devices by 34.2% in the first quarter. British Columbia Investment Management Corp now owns 208,526 shares of the semiconductor company’s stock valued at $17,089,000 after buying an additional 53,139 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in shares of Analog Devices during the first quarter valued at approximately $63,309,000. Summit Securities Group LLC bought a new stake in shares of Analog Devices during the first quarter valued at approximately $1,572,000. Norinchukin Bank The increased its stake in shares of Analog Devices by 26.5% in the first quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock valued at $1,938,000 after buying an additional 4,956 shares during the period. Finally, Swiss National Bank increased its stake in shares of Analog Devices by 51.3% in the first quarter. Swiss National Bank now owns 1,291,248 shares of the semiconductor company’s stock valued at $105,818,000 after buying an additional 437,580 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 76.83 on Friday. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of 29.43 and a beta of 1.30. The stock has a 50 day moving average price of $79.20 and a 200-day moving average price of $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 (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. Zacks Investment Research downgraded Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. Bank of America Corporation reissued a “buy” rating and issued a $100.00 price objective (up from $92.00) on shares of Analog Devices in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $100.00 price objective (up from $90.00) on shares of Analog Devices in a research note on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $84.00 price objective (up from $80.00) 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 issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Analog Devices presently has an average rating of “Buy” and a consensus target price of $89.92.

In other news, 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,663,742.16. 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.

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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