Wedbush Securities Inc. Raises Position in Analog Devices, Inc. (ADI)
Wedbush Securities Inc. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,962 shares of the semiconductor company’s stock after buying an additional 1,353 shares during the period. Wedbush Securities Inc.’s holdings in Analog Devices were worth $464,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lazard Asset Management LLC acquired a new position in shares of Analog Devices during the first quarter worth about $100,000. Whittier Trust Co. of Nevada Inc. raised its position 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 worth $109,000 after buying an additional 475 shares during the period. Jacobus Wealth Management Inc. acquired a new position in shares of Analog Devices during the first quarter worth about $113,000. Heritage Trust Co acquired a new position in shares of Analog Devices during the first quarter worth about $114,000. Finally, Guardian Life Insurance Co. of America raised its position 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 worth $115,000 after buying an additional 223 shares during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 80.06 on Thursday. Analog Devices, Inc. has a 52-week low of $59.01 and a 52-week high of $90.49. The firm has a market cap of $29.38 billion, a P/E ratio of 30.66 and a beta of 1.30. The company has a 50-day moving average of $79.10 and a 200 day moving average of $79.83.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.18. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 41.2% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $97.00 price objective (up previously from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Instinet lowered shares of Analog Devices from a “neutral” rating to a “reduce” rating and dropped their price objective for the company from $82.00 to $72.00 in a report on Friday, June 2nd. Morgan Stanley restated an “overweight” rating and set a $96.00 price target (up previously from $93.00) on shares of Analog Devices in a report on Thursday, June 1st. BidaskClub upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Deutsche Bank AG restated a “hold” rating and set a $84.00 price target (up previously from $80.00) on shares of Analog Devices in a report on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Analog Devices presently has an average rating of “Buy” and a consensus price target of $89.92.
In other news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $80.35, for a total value of $241,050.00. Following the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,639,461.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Peter Real sold 4,505 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $80.07, for a total value of $360,715.35. Following the completion of the sale, the senior vice president now directly owns 13,531 shares in the company, valued at $1,083,427.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,086 shares of company stock worth $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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