US Bancorp DE increased its stake in shares of Analog Devices (NASDAQ:ADI) by 2.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 192,846 shares of the semiconductor company’s stock after purchasing an additional 4,874 shares during the period. US Bancorp DE owned approximately 0.05% of Analog Devices worth $17,574,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Analog Devices by 3.1% in the 4th quarter. Bank of New York Mellon Corp now owns 3,178,510 shares of the semiconductor company’s stock valued at $282,983,000 after buying an additional 94,402 shares during the period. LPL Financial LLC boosted its position in Analog Devices by 13.0% in the 4th quarter. LPL Financial LLC now owns 28,209 shares of the semiconductor company’s stock valued at $2,512,000 after buying an additional 3,243 shares during the period. Deprince Race & Zollo Inc. purchased a new position in Analog Devices in the 4th quarter valued at approximately $19,757,000. OLD National Bancorp IN boosted its position in Analog Devices by 324.7% in the 4th quarter. OLD National Bancorp IN now owns 80,620 shares of the semiconductor company’s stock valued at $7,178,000 after buying an additional 61,636 shares during the period. Finally, Global X Management Co. LLC boosted its position in Analog Devices by 82.5% in the 4th quarter. Global X Management Co. LLC now owns 28,723 shares of the semiconductor company’s stock valued at $2,557,000 after buying an additional 12,985 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:ADI opened at $94.88 on Friday. Analog Devices has a 12 month low of $76.07 and a 12 month high of $98.38. The company has a current ratio of 1.76, a quick ratio of 1.31 and a debt-to-equity ratio of 0.71. The firm has a market cap of $35.15 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.41 and a beta of 1.24.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.13. Analog Devices had a net margin of 13.80% and a return on equity of 18.78%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $0.94 EPS. Analog Devices’s revenue for the quarter was up 54.4% compared to the same quarter last year. equities analysts expect that Analog Devices will post 5.63 EPS for the current fiscal year.
ADI has been the subject of several recent research reports. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Monday, March 5th. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. B. Riley restated a “buy” rating and issued a $122.00 price objective (up from $113.00) on shares of Analog Devices in a report on Wednesday, February 28th. Argus raised their price objective on shares of Analog Devices from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, March 1st. They noted that the move was a valuation call. Finally, Stifel Nicolaus raised their price objective on shares of Analog Devices from $102.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 1st. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Analog Devices currently has an average rating of “Buy” and an average price target of $101.21.
In other Analog Devices news, CAO Eileen Wynne sold 5,209 shares of Analog Devices stock in a transaction on Friday, March 16th. The shares were sold at an average price of $94.86, for a total value of $494,125.74. Following the transaction, the chief accounting officer now directly owns 3,895 shares in the company, valued at $369,479.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $86.95, for a total transaction of $869,500.00. Following the completion of the transaction, the chief executive officer now owns 17,376 shares in the company, valued at $1,510,843.20. The disclosure for this sale can be found here. Insiders have sold a total of 67,106 shares of company stock worth $6,060,346 over the last quarter. 1.10% of the stock is owned by company insiders.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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