NN Investment Partners Holdings N.V. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 15.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,908 shares of the semiconductor company’s stock after selling 8,734 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Analog Devices were worth $4,522,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in ADI. Good Life Advisors LLC acquired a new position in shares of Analog Devices during the third quarter valued at $207,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Analog Devices by 5.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 88,885 shares of the semiconductor company’s stock valued at $8,219,000 after acquiring an additional 4,552 shares during the period. Barings LLC boosted its holdings in shares of Analog Devices by 1.6% during the third quarter. Barings LLC now owns 42,486 shares of the semiconductor company’s stock valued at $3,929,000 after acquiring an additional 668 shares during the period. State Treasurer State of Michigan boosted its holdings in shares of Analog Devices by 0.9% during the third quarter. State Treasurer State of Michigan now owns 110,795 shares of the semiconductor company’s stock valued at $10,244,000 after acquiring an additional 1,000 shares during the period. Finally, Trust Co. of Vermont boosted its holdings in shares of Analog Devices by 1.3% during the third quarter. Trust Co. of Vermont now owns 55,081 shares of the semiconductor company’s stock valued at $5,092,000 after acquiring an additional 691 shares during the period. 88.10% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ ADI opened at $87.18 on Friday. Analog Devices, Inc. has a fifty-two week low of $76.62 and a fifty-two week high of $103.59. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $32.40 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.20 and a beta of 1.23.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. As a group, analysts predict that Analog Devices, Inc. will post 5.93 earnings per share for the current fiscal year.
Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other Analog Devices news, SVP Joseph Hassett sold 12,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $100.40, for a total value of $1,204,800.00. Following the sale, the senior vice president now directly owns 26,711 shares in the company, valued at $2,681,784.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the sale, the chief executive officer now owns 27,376 shares in the company, valued at $2,326,960. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,050 shares of company stock worth $8,318,658. 1.10% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Analog Devices from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, October 3rd. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Thursday, August 23rd. Raymond James boosted their price target on shares of Analog Devices from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 23rd. ValuEngine downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, Barclays reissued an “overweight” rating and set a $108.00 price target on shares of Analog Devices in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $103.70.
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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