Cypress Capital Management LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 45.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,802 shares of the semiconductor company’s stock after buying an additional 4,000 shares during the period. Cypress Capital Management LLC’s holdings in Analog Devices were worth $1,348,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in shares of Analog Devices by 52.5% during the third quarter. Renaissance Technologies LLC now owns 46,196 shares of the semiconductor company’s stock worth $4,271,000 after buying an additional 15,900 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Analog Devices by 18.3% during the third quarter. Legal & General Group Plc now owns 1,889,741 shares of the semiconductor company’s stock worth $174,661,000 after buying an additional 291,836 shares during the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Analog Devices by 826.3% during the third quarter. Federated Investors Inc. PA now owns 385,742 shares of the semiconductor company’s stock worth $35,665,000 after buying an additional 344,100 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Analog Devices by 1.6% during the third quarter. Vanguard Group Inc now owns 31,687,292 shares of the semiconductor company’s stock worth $2,929,807,000 after buying an additional 496,719 shares during the last quarter. Finally, Sit Investment Associates Inc. lifted its holdings in shares of Analog Devices by 7.8% during the fourth quarter. Sit Investment Associates Inc. now owns 2,750 shares of the semiconductor company’s stock worth $236,000 after buying an additional 200 shares during the last quarter. Institutional investors own 91.21% of the company’s stock.
Shares of ADI stock traded down $0.02 during trading hours on Wednesday, hitting $106.73. 9,080 shares of the company’s stock were exchanged, compared to its average volume of 2,704,216. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.64 and a current ratio of 2.34. The stock has a market capitalization of $39.32 billion, a PE ratio of 17.94, a PEG ratio of 1.54 and a beta of 1.27. Analog Devices, Inc. has a 52 week low of $76.62 and a 52 week high of $118.54.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.28 by $0.05. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 5.47 earnings per share for the current fiscal year.
In other news, CAO Eileen Wynne sold 2,736 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $105.28, for a total transaction of $288,046.08. Following the sale, the chief accounting officer now owns 4,888 shares in the company, valued at $514,608.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 10,000 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $107.54, for a total value of $1,075,400.00. Following the sale, the director now owns 151,936 shares in the company, valued at approximately $16,339,197.44. The disclosure for this sale can be found here. Insiders have sold 112,120 shares of company stock worth $12,114,745 in the last 90 days. Company insiders own 0.50% of the company’s stock.
ADI has been the subject of a number of recent research reports. Zacks Investment Research upgraded Analog Devices from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of Analog Devices in a research note on Tuesday, April 30th. BidaskClub lowered Analog Devices from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird reiterated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Wednesday, February 20th. Finally, Barclays reiterated a “hold” rating and issued a $102.00 price target on shares of Analog Devices in a research report on Friday, January 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $105.67.
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Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
Further Reading: Why do company’s buyback their stock?
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