Envestnet Asset Management Inc. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 348,006 shares of the semiconductor company’s stock after selling 1,269 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Analog Devices were worth $38,883,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lenox Wealth Advisors LLC bought a new stake in Analog Devices in the second quarter valued at approximately $28,000. Assetmark Inc. increased its stake in Analog Devices by 120.6% in the second quarter. Assetmark Inc. now owns 289 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 158 shares in the last quarter. Tortoise Investment Management LLC bought a new stake in Analog Devices in the second quarter valued at approximately $34,000. Webster Bank N. A. increased its stake in Analog Devices by 150.0% in the third quarter. Webster Bank N. A. now owns 340 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Finally, Mcmillion Capital Management Inc. bought a new stake in Analog Devices in the second quarter valued at approximately $44,000. 87.53% of the stock is owned by institutional investors and hedge funds.
In related news, Director Ray Stata sold 1,500 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $108.48, for a total transaction of $162,720.00. Following the completion of the transaction, the director now owns 155,591 shares in the company, valued at $16,878,511.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Martin Cotter sold 463 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $115.76, for a total transaction of $53,596.88. Following the transaction, the senior vice president now owns 173 shares of the company’s stock, valued at approximately $20,026.48. The disclosure for this sale can be found here. Insiders sold 59,125 shares of company stock valued at $6,597,327 in the last quarter. Corporate insiders own 0.50% of the company’s stock.
Several equities research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Analog Devices from $97.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Loop Capital upped their target price on shares of Analog Devices to $125.00 and gave the company a “buy” rating in a research note on Friday, September 27th. ValuEngine downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. Finally, Piper Jaffray Companies upped their price target on shares of Analog Devices from $118.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $113.56.
Analog Devices stock opened at $109.48 on Monday. The stock has a market capitalization of $40.63 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.02 and a beta of 1.43. Analog Devices, Inc. has a twelve month low of $76.62 and a twelve month high of $124.79. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $112.01 and a 200-day moving average of $110.67.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.04. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Analog Devices had a net margin of 24.71% and a return on equity of 17.87%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 earnings per share. Equities analysts anticipate that Analog Devices, Inc. will post 5.2 EPS for the current fiscal year.
Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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