Analog Devices, Inc. $ADI Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 10.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,257,792 shares of the semiconductor company’s stock after selling 150,138 shares during the period. Ensign Peak Advisors Inc’s holdings in Analog Devices were worth $299,380,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 529 shares during the last quarter. PFG Advisors increased its position in Analog Devices by 32.3% during the 1st quarter. PFG Advisors now owns 16,521 shares of the semiconductor company’s stock worth $3,332,000 after purchasing an additional 4,032 shares in the last quarter. Oak Thistle LLC acquired a new position in Analog Devices in the 1st quarter valued at about $298,000. Venturi Wealth Management LLC lifted its holdings in Analog Devices by 6.5% in the 1st quarter. Venturi Wealth Management LLC now owns 7,974 shares of the semiconductor company’s stock valued at $1,608,000 after purchasing an additional 487 shares in the last quarter. Finally, Legato Capital Management LLC lifted its holdings in Analog Devices by 50.4% in the 1st quarter. Legato Capital Management LLC now owns 22,643 shares of the semiconductor company’s stock valued at $4,566,000 after purchasing an additional 7,587 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total value of $719,406.25. Following the completion of the transaction, the director directly owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This represents a 2.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the sale, the chief executive officer owned 163,640 shares of the company’s stock, valued at $38,447,218. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 59,750 shares of company stock worth $14,684,296. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ADI shares. BNP Paribas initiated coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Analog Devices in a research note on Thursday, November 13th. JPMorgan Chase & Co. raised their price target on Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Morgan Stanley upped their price objective on shares of Analog Devices from $273.00 to $288.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Finally, Wells Fargo & Company increased their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.89.

Analog Devices Price Performance

Analog Devices stock opened at $232.20 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $114.23 billion, a P/E ratio of 59.23, a PEG ratio of 1.98 and a beta of 1.10. The firm has a fifty day moving average of $239.50 and a 200-day moving average of $234.35. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $258.13.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.10. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.76 billion. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 EPS. As a group, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.