Janney Montgomery Scott LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 18.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,969 shares of the semiconductor company’s stock after buying an additional 15,183 shares during the period. Janney Montgomery Scott LLC’s holdings in Analog Devices were worth $7,544,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. National Pension Service increased its stake in Analog Devices by 11.8% in the first quarter. National Pension Service now owns 309,725 shares of the semiconductor company’s stock valued at $25,459,000 after buying an additional 32,811 shares during the period. Quadrant Capital Group LLC raised its position 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 valued at $203,000 after buying an additional 184 shares in the last quarter. Gulf International Bank UK Ltd raised its position 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 valued at $9,225,000 after buying an additional 19,287 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its position 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 valued at $6,623,000 after buying an additional 9,491 shares in the last quarter. Finally, Creative Planning raised its position in shares of 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. 87.76% of the stock is currently owned by institutional investors.
Shares of Analog Devices, Inc. (NASDAQ ADI) traded up 1.57% during trading on Friday, hitting $78.04. The stock had a trading volume of 1,919,352 shares. Analog Devices, Inc. has a 52-week low of $59.01 and a 52-week high of $90.49. The stock has a 50 day moving average of $79.11 and a 200 day moving average of $79.68. The firm has a market cap of $28.64 billion, a PE ratio of 29.89 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (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 analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’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 EPS for the current year.
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ADI has been the subject of several analyst reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Raymond James Financial, Inc. initiated coverage on Analog Devices in a research report on Friday, June 16th. They set a “market perform” rating for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $92.00 target price on shares of Analog Devices in a research report on Friday, August 4th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $90.00 target price (up from $87.00) on shares of Analog Devices in a research report on Thursday, June 1st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $89.92.
In other news, CEO Vincent Roche sold 47,500 shares of Analog Devices 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 transaction, the chief executive officer now owns 61,484 shares in the company, valued at approximately $5,318,366. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,663,742.16. The disclosure for this sale can be found here. Insiders sold 61,086 shares of company stock worth $5,202,514 in the last 90 days. 1.10% of the stock is currently owned by corporate 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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