Vestmark Advisory Solutions Inc. Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Vestmark Advisory Solutions Inc. trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,260 shares of the semiconductor company’s stock after selling 112 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Analog Devices were worth $923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Analog Devices by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 31,611,473 shares of the semiconductor company’s stock valued at $3,567,986,000 after buying an additional 506,468 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Analog Devices by 3.6% during the 2nd quarter. Wells Fargo & Company MN now owns 7,579,610 shares of the semiconductor company’s stock valued at $855,510,000 after buying an additional 260,484 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Analog Devices by 164.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,636,929 shares of the semiconductor company’s stock valued at $636,240,000 after buying an additional 3,502,958 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Analog Devices by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,937,825 shares of the semiconductor company’s stock valued at $331,591,000 after buying an additional 84,299 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Analog Devices by 1,516.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,017,417 shares of the semiconductor company’s stock valued at $227,706,000 after buying an additional 1,892,575 shares in the last quarter. 87.58% of the stock is currently owned by institutional investors.

ADI has been the topic of a number of research reports. Raymond James raised Analog Devices from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Wednesday, October 30th. ValuEngine cut Analog Devices from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Daiwa Capital Markets started coverage on Analog Devices in a report on Tuesday, October 22nd. They set an “outperform” rating and a $121.00 price objective on the stock. Morgan Stanley lifted their price target on Analog Devices from $97.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Finally, Loop Capital lifted their price target on Analog Devices to $125.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. Analog Devices has a consensus rating of “Buy” and an average price target of $114.33.

In other news, SVP Martin Cotter sold 463 shares of Analog Devices stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $115.76, for a total value of $53,596.88. Following the sale, the senior vice president now directly owns 173 shares in the company, valued at approximately $20,026.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joseph Hassett sold 10,544 shares of Analog Devices stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $116.72, for a total value of $1,230,695.68. Following the completion of the sale, the senior vice president now owns 34,360 shares in the company, valued at $4,010,499.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,362 shares of company stock worth $5,780,793. Corporate insiders own 0.50% of the company’s stock.

Analog Devices stock traded up $0.91 during trading hours on Wednesday, reaching $114.17. The company had a trading volume of 1,729,300 shares, compared to its average volume of 2,541,045. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.92. The company has a 50-day moving average price of $110.37 and a 200 day moving average price of $110.34. The firm has a market cap of $41.75 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 2.04 and a beta of 1.42. Analog Devices, Inc. has a 12-month low of $80.08 and a 12-month high of $124.79.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.04. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Analog Devices had a return on equity of 17.87% and a net margin of 24.71%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. As a group, research analysts expect that Analog Devices, Inc. will post 5.2 earnings per share for the current 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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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