Smith Salley & Associates Increases Holdings in Analog Devices, Inc. (ADI)

Smith Salley & Associates grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,930 shares of the semiconductor company’s stock after acquiring an additional 3,836 shares during the quarter. Analog Devices accounts for about 1.3% of Smith Salley & Associates’ holdings, making the stock its 28th largest position. Smith Salley & Associates’ holdings in Analog Devices were worth $7,945,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its position in shares of Analog Devices by 2.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 106,656 shares of the semiconductor company’s stock worth $9,861,000 after acquiring an additional 2,781 shares during the period. Gryphon Financial Partners LLC lifted its position in shares of Analog Devices by 8,980.9% in the 3rd quarter. Gryphon Financial Partners LLC now owns 16,164 shares of the semiconductor company’s stock worth $1,495,000 after acquiring an additional 15,986 shares during the period. Achmea Investment Management B.V. lifted its position in shares of Analog Devices by 156.2% in the 3rd quarter. Achmea Investment Management B.V. now owns 24,264 shares of the semiconductor company’s stock worth $2,243,000 after acquiring an additional 14,795 shares during the period. Dupont Capital Management Corp lifted its position in shares of Analog Devices by 5.7% in the 3rd quarter. Dupont Capital Management Corp now owns 145,224 shares of the semiconductor company’s stock worth $13,427,000 after acquiring an additional 7,773 shares during the period. Finally, Cannell Peter B & Co. Inc. lifted its position in shares of Analog Devices by 6.0% in the 3rd quarter. Cannell Peter B & Co. Inc. now owns 88,100 shares of the semiconductor company’s stock worth $8,146,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 88.20% of the company’s stock.

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total transaction of $971,900.00. Following the completion of the sale, the chief executive officer now directly owns 27,376 shares of the company’s stock, valued at approximately $2,660,673.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph Hassett sold 12,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $2,681,784.40. The disclosure for this sale can be found here. Insiders have sold a total of 88,750 shares of company stock valued at $8,561,658 over the last ninety days. Insiders own 1.10% of the company’s stock.

ADI has been the subject of a number of research reports. Goldman Sachs Group downgraded Analog Devices from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $56.00 to $47.00 in a research report on Thursday, October 18th. BidaskClub downgraded Analog Devices from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Barclays reiterated an “overweight” rating and issued a $108.00 price objective on shares of Analog Devices in a research report on Wednesday, October 3rd. SunTrust Banks restated a “buy” rating and set a $118.00 target price on shares of Analog Devices in a research report on Thursday, August 30th. Finally, ValuEngine downgraded Analog Devices from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. One research 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’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $103.70.

Analog Devices stock opened at $87.59 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60. The company has a market cap of $32.82 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.22 and a beta of 1.23. Analog Devices, Inc. has a one year low of $76.62 and a one year high of $103.59.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company earned $1.26 EPS. Analog Devices’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices, Inc. will post 5.93 EPS for the current fiscal year.

Analog Devices announced that its board has authorized a share buyback plan on Tuesday, August 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Analog Devices Profile

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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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