Confluence Investment Management LLC decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 476,489 shares of the semiconductor company’s stock after selling 6,110 shares during the period. Confluence Investment Management LLC owned 0.13% of Analog Devices worth $42,422,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Analog Devices by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock worth $2,260,331,000 after acquiring an additional 847,762 shares in the last quarter. BlackRock Inc. grew its stake in shares of Analog Devices by 6.2% in the second quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after buying an additional 1,437,338 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Analog Devices by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 16,692,851 shares of the semiconductor company’s stock valued at $1,429,574,000 after buying an additional 213,714 shares in the last quarter. FMR LLC grew its stake in shares of Analog Devices by 14.6% in the second quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock valued at $691,608,000 after buying an additional 1,132,549 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Analog Devices by 0.3% in the third quarter. Wells Fargo & Company MN now owns 8,742,697 shares of the semiconductor company’s stock valued at $753,358,000 after buying an additional 25,092 shares in the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.
Several brokerages have issued reports on ADI. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. Drexel Hamilton reissued a “buy” rating and set a $105.00 target price on shares of Analog Devices in a report on Tuesday, November 21st. Royal Bank of Canada restated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Thursday, January 4th. Oppenheimer restated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Friday, November 17th. Finally, Morgan Stanley restated an “overweight” rating and issued a $103.00 price target (up previously from $98.00) on shares of Analog Devices in a research report on Wednesday, November 22nd. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Buy” and an average target price of $97.21.
In related news, SVP Yusuf Jamal sold 718 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $90.89, for a total transaction of $65,259.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Gregory N. Henderson sold 4,000 shares of Analog Devices stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $91.52, for a total value of $366,080.00. Following the completion of the sale, the senior vice president now owns 1,163 shares in the company, valued at $106,437.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,061 shares of company stock worth $14,631,741. Insiders own 1.10% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ ADI) traded up $0.85 during midday trading on Wednesday, hitting $92.40. The stock had a trading volume of 140,905 shares, compared to its average volume of 3,099,480. The stock has a market cap of $34,949.37, a PE ratio of 44.23, a PEG ratio of 1.74 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.13. Analog Devices, Inc. has a 1 year low of $74.60 and a 1 year high of $98.38.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.09. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm’s quarterly revenue was up 53.4% on a year-over-year basis. research analysts forecast that Analog Devices, Inc. will post 5.2 earnings per share for the current fiscal year.
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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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