Probity Advisors Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,751 shares of the semiconductor company’s stock after selling 285 shares during the period. Probity Advisors Inc.’s holdings in Analog Devices were worth $447,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in Analog Devices during the first quarter valued at approximately $100,000. Jacobus Wealth Management Inc. purchased a new stake in shares of Analog Devices during the first quarter worth about $113,000. Heritage Trust Co purchased a new stake in shares of Analog Devices during the first quarter worth about $114,000. Guardian Life Insurance Co. of America boosted 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 worth $115,000 after buying an additional 223 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted 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 worth $109,000 after buying an additional 475 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ:ADI) opened at 77.74 on Friday. The company’s 50 day moving average price is $79.05 and its 200 day moving average price is $79.82. The firm has a market capitalization of $28.53 billion, a price-to-earnings ratio of 29.77 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 announced its quarterly earnings data 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
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A number of brokerages have recently issued reports on ADI. Royal Bank Of Canada boosted their target price on Analog Devices from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Argus boosted their target price on Analog Devices from $86.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Drexel Hamilton reiterated a “buy” rating and set a $105.00 target price (up previously from $93.00) on shares of Analog Devices in a report on Wednesday, May 31st. B. Riley reiterated a “buy” rating and set a $103.00 target price on shares of Analog Devices in a report on Tuesday, May 30th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $100.00 target price on shares of Analog Devices in a report on Friday, May 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $89.92.
In related news, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction on Monday, May 22nd. The stock was 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 directly owns 20,404 shares of the company’s stock, valued at $1,663,742.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Peter Real sold 4,505 shares of Analog Devices 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 sale, the senior vice president now directly owns 13,531 shares of the company’s stock, valued at $1,083,427.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,086 shares of company stock valued at $5,202,514. 1.10% of the stock is owned by insiders.
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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