Analog Devices, Inc. (NASDAQ:ADI) Position Reduced by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,875 shares of the semiconductor company’s stock after selling 5,800 shares during the period. Pictet Asset Management Ltd. owned 0.06% of Analog Devices worth $17,741,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. YorkBridge Wealth Partners LLC boosted its position in shares of Analog Devices by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,753 shares of the semiconductor company’s stock worth $283,000 after buying an additional 11 shares during the period. King Luther Capital Management Corp boosted its position in shares of Analog Devices by 0.9% in the first quarter. King Luther Capital Management Corp now owns 3,722 shares of the semiconductor company’s stock worth $305,000 after buying an additional 32 shares during the period. CENTRAL TRUST Co boosted its position in shares of Analog Devices by 1.4% in the second quarter. CENTRAL TRUST Co now owns 2,365 shares of the semiconductor company’s stock worth $184,000 after buying an additional 32 shares during the period. Osborn Williams & Donohoe LLC boosted its position in shares of Analog Devices by 1.2% in the second quarter. Osborn Williams & Donohoe LLC now owns 2,834 shares of the semiconductor company’s stock worth $220,000 after buying an additional 34 shares during the period. Finally, Smith Salley & Associates boosted its position in shares of Analog Devices by 1.1% in the second quarter. Smith Salley & Associates now owns 3,878 shares of the semiconductor company’s stock worth $302,000 after buying an additional 42 shares during the period. 87.76% of the stock is owned by institutional investors.

Analog Devices, Inc. (NASDAQ ADI) opened at 78.04 on Friday. The company’s 50 day moving average is $79.11 and its 200 day moving average is $79.68. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49. The firm has a market cap of $28.64 billion, a price-to-earnings ratio of 29.89 and a beta of 1.30.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business posted $0.64 EPS. Analog Devices’s quarterly revenue was up 41.2% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

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A number of research analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $103.00 target price on shares of Analog Devices in a report on Tuesday, May 30th. UBS AG reaffirmed a “neutral” rating and issued a $94.00 target price (up from $83.00) on shares of Analog Devices in a report on Saturday, June 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a report on Monday, May 22nd. Stephens raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a report on Monday, April 24th. Finally, BidaskClub cut shares of Analog Devices from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $89.92.

In other news, SVP Margaret K. Seif sold 3,000 shares of the 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 transaction, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,663,742.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 47,500 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the transaction, the chief executive officer now owns 61,484 shares in the company, valued at approximately $5,318,366. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,086 shares of company stock worth $5,202,514. 1.10% of the stock is currently owned by company 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.

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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