Pineno Levin & Ford Asset Management Inc. held its position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,716 shares of the semiconductor company’s stock at the end of the second quarter. Pineno Levin & Ford Asset Management Inc.’s holdings in Analog Devices were worth $211,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CENTRAL TRUST Co boosted its stake in Analog Devices by 7.5% in the first quarter. CENTRAL TRUST Co now owns 2,333 shares of the semiconductor company’s stock valued at $191,000 after buying an additional 162 shares in the last quarter. Creative Planning boosted its stake in Analog Devices by 33.0% in the first quarter. Creative Planning now owns 11,776 shares of the semiconductor company’s stock valued at $965,000 after buying an additional 2,919 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Analog Devices by 13.3% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 80,822 shares of the semiconductor company’s stock worth $6,623,000 after buying an additional 9,491 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Analog Devices by 20.7% in the first quarter. Gulf International Bank UK Ltd now owns 112,570 shares of the semiconductor company’s stock worth $9,225,000 after buying an additional 19,287 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Analog Devices by 7.6% in the first quarter. Quadrant Capital Group LLC now owns 2,598 shares of the semiconductor company’s stock worth $203,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.
Analog Devices, Inc. (NASDAQ ADI) traded up 0.23% during mid-day trading on Friday, hitting $77.74. 1,884,655 shares of the stock were exchanged. The firm has a 50-day moving average price of $79.05 and a 200-day moving average price of $79.82. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49. The stock has a market capitalization of $28.53 billion, a P/E ratio of 29.77 and a beta of 1.30.
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, topping the Zacks’ consensus estimate of $0.85 by $0.18. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was up 41.2% compared to the same quarter last year. Equities analysts predict that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
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A number of brokerages have weighed in on ADI. Stifel Nicolaus reissued a “buy” rating and set a $97.00 target price (up from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Instinet cut shares of Analog Devices from a “neutral” rating to a “reduce” rating and dropped their target price for the stock from $82.00 to $72.00 in a report on Friday, June 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $96.00 price objective (up previously from $93.00) on shares of Analog Devices in a report on Thursday, June 1st. BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, B. Riley reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a report on Thursday. Two investment analysts have rated the stock with a sell rating, ten have given 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 a consensus rating of “Buy” and an average target price of $89.92.
In related news, SVP Peter Real sold 4,505 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $80.07, for a total transaction of $360,715.35. Following the completion of the sale, the senior vice president now owns 13,531 shares of the company’s stock, valued at $1,083,427.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 47,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total value 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. Insiders have sold 61,086 shares of company stock valued at $5,202,514 over the last 90 days. 1.10% of the stock is owned by corporate insiders.
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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