Morse Asset Management Inc reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.0% in the second quarter, Holdings Channel reports. The institutional investor owned 12,970 shares of the semiconductor company’s stock after selling 400 shares during the period. Morse Asset Management Inc’s holdings in Analog Devices were worth $1,464,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Lenox Wealth Advisors LLC bought a new position in shares of Analog Devices during the second quarter valued at about $28,000. Berman Capital Advisors LLC lifted its position in shares of Analog Devices by 43.8% during the first quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 91 shares in the last quarter. Mcmillion Capital Management Inc. bought a new position in shares of Analog Devices during the second quarter valued at about $44,000. Hanson McClain Inc. lifted its position in shares of Analog Devices by 44.8% during the first quarter. Hanson McClain Inc. now owns 459 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 142 shares in the last quarter. Finally, Thor Advisors LLC bought a new position in shares of Analog Devices during the first quarter valued at about $67,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.
In other news, Director Edward H. Frank sold 14,880 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $110.51, for a total value of $1,644,388.80. Following the sale, the director now owns 16,520 shares of the company’s stock, valued at $1,825,625.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Yusuf Jamal sold 31,867 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the completion of the sale, the senior vice president now directly owns 2,124 shares in the company, valued at approximately $208,555.56. The disclosure for this sale can be found here. In the last three months, insiders sold 102,266 shares of company stock worth $11,006,074. Insiders own 0.50% of the company’s stock.
ADI stock traded up $3.97 during mid-day trading on Tuesday, hitting $112.93. The company had a trading volume of 103,175 shares, compared to its average volume of 2,198,638. The stock has a market cap of $41.66 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.70 and a beta of 1.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.52. Analog Devices, Inc. has a 12 month low of $76.62 and a 12 month high of $124.79. The firm’s fifty day moving average is $114.76.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $1.45 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 5.24 EPS for the current year.
A number of research analysts recently weighed in on the stock. ValuEngine raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Royal Bank of Canada dropped their price target on shares of Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. SunTrust Banks lowered their price objective on shares of Analog Devices to $122.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Piper Jaffray Companies lifted their price objective on shares of Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Goldman Sachs Group raised shares of Analog Devices from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $101.00 to $114.00 in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $109.94.
Analog Devices 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: Bid-Ask Spread
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