Somerville Kurt F Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Somerville Kurt F decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 125,204 shares of the semiconductor company’s stock after selling 238 shares during the period. Analog Devices accounts for 2.8% of Somerville Kurt F’s holdings, making the stock its 15th largest position. Somerville Kurt F’s holdings in Analog Devices were worth $14,131,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ADI. Lenox Wealth Advisors LLC purchased a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $28,000. Berman Capital Advisors LLC grew its stake in shares of Analog Devices by 43.8% in the 1st quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 91 shares during the period. TCI Wealth Advisors Inc. grew its stake in shares of Analog Devices by 820.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 322 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 287 shares during the period. Hanson McClain Inc. grew its stake in shares of Analog Devices by 44.8% in the 1st quarter. Hanson McClain Inc. now owns 459 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 142 shares during the period. Finally, Thor Advisors LLC purchased a new stake in shares of Analog Devices in the 1st quarter valued at approximately $67,000. 89.27% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on ADI. Goldman Sachs Group raised shares of Analog Devices from a “sell” rating to a “buy” rating and increased their price target for the company from $101.00 to $114.00 in a research note on Monday, June 10th. ValuEngine upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley decreased their price objective on shares of Analog Devices from $100.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. Royal Bank of Canada decreased their price objective on shares of Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Finally, Piper Jaffray Companies upped their price objective on shares of Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $109.94.

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $118.43, for a total transaction of $1,184,300.00. Following the sale, the chief executive officer now directly owns 31,206 shares in the company, valued at approximately $3,695,726.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Champy sold 8,260 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $121.02, for a total transaction of $999,625.20. Following the sale, the director now owns 17,390 shares in the company, valued at $2,104,537.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,266 shares of company stock worth $11,006,074. 0.50% of the stock is owned by company insiders.

Shares of ADI stock traded down $1.78 during trading hours on Friday, hitting $112.68. The company had a trading volume of 2,662,639 shares, compared to its average volume of 1,961,262. The business’s fifty day moving average is $114.45. The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. Analog Devices, Inc. has a fifty-two week low of $76.62 and a fifty-two week high of $124.79. The firm has a market capitalization of $42.32 billion, a PE ratio of 18.97, a PEG ratio of 1.76 and a beta of 1.40.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.30 by $0.06. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 EPS. Equities research analysts expect that Analog Devices, Inc. will post 5.24 earnings per share for the current year.

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.

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

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