State of Tennessee Treasury Department reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 50.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,864 shares of the semiconductor company’s stock after selling 102,236 shares during the quarter. State of Tennessee Treasury Department’s holdings in Analog Devices were worth $8,605,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its holdings in Analog Devices by 51.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 475 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Analog Devices during the 2nd quarter worth approximately $119,000. WFG Advisors LP increased its holdings in Analog Devices by 26.4% during the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 330 shares during the last quarter. Rockefeller Financial Services Inc. increased its holdings in Analog Devices by 7,478.3% during the 2nd quarter. Rockefeller Financial Services Inc. now owns 1,743 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 1,720 shares during the last quarter. Finally, Crow Point Partners LLC purchased a new stake in Analog Devices during the 3rd quarter worth approximately $140,000. Institutional investors and hedge funds own 86.65% of the company’s stock.
Several equities research analysts have issued reports on ADI shares. BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Drexel Hamilton restated a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a report on Wednesday, August 30th. Jefferies Group LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research report on Thursday, October 19th. Citigroup Inc. reiterated a “neutral” rating and issued a $88.00 target price (down previously from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Tuesday, October 10th. Twelve equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $93.65.
In other news, Director James Champy sold 12,500 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,125,000.00. Following the sale, the director now directly owns 21,910 shares of the company’s stock, valued at $1,971,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 25,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the sale, the director now directly owns 234,481 shares in the company, valued at $19,579,163.50. The disclosure for this sale can be found here. Insiders sold a total of 135,994 shares of company stock worth $11,604,048 in the last three months. Company insiders own 1.10% of the company’s stock.
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Shares of Analog Devices, Inc. (ADI) opened at $89.59 on Friday. Analog Devices, Inc. has a 12 month low of $64.11 and a 12 month high of $92.96. The company has a quick ratio of 1.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $32,939.38, a price-to-earnings ratio of 20.93, a PEG ratio of 1.74 and a beta of 1.32.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was up 64.9% compared to the same quarter last year. research analysts forecast that Analog Devices, Inc. will post 4.6 earnings per share for the current fiscal year.
Analog Devices Profile
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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