Emerald Advisers LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 54.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,167 shares of the semiconductor company’s stock after selling 4,941 shares during the period. Emerald Advisers LLC’s holdings in Analog Devices were worth $470,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Lenox Wealth Advisors LLC acquired a new position in Analog Devices during the second quarter worth $28,000. Berman Capital Advisors LLC lifted its stake in Analog Devices by 43.8% during the first quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 91 shares in the last quarter. Mcmillion Capital Management Inc. acquired a new position in Analog Devices during the second quarter worth $44,000. Hanson McClain Inc. lifted its stake in Analog Devices by 44.8% during the first quarter. Hanson McClain Inc. now owns 459 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 142 shares in the last quarter. Finally, Thor Advisors LLC acquired a new position in Analog Devices during the first quarter worth $67,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.
In other news, SVP Yusuf Jamal sold 31,867 shares of the stock in a transaction dated 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 owns 2,124 shares in the company, valued at $208,555.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $98.23, for a total transaction of $982,300.00. Following the sale, the chief executive officer now owns 31,206 shares of the company’s stock, valued at approximately $3,065,365.38. The disclosure for this sale can be found here. Insiders sold 102,266 shares of company stock valued at $11,006,074 in the last 90 days. 0.50% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on the company. Goldman Sachs Group raised Analog Devices from a “sell” rating to a “buy” rating and upped their price objective for the stock from $101.00 to $114.00 in a research report on Monday, June 10th. Piper Jaffray Companies upped their price objective on Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Royal Bank of Canada cut their price objective on Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. BidaskClub lowered Analog Devices from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Zacks Investment Research lowered Analog Devices from a “hold” rating to a “strong sell” rating and set a $102.00 price objective on the stock. in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $109.94.
NASDAQ:ADI opened at $108.92 on Thursday. The stock has a market capitalization of $40.29 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.68 and a beta of 1.41. The company has a fifty day simple moving average of $114.72. 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 12 month low of $76.62 and a 12 month high of $124.79.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.30 by $0.06. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. Analog Devices’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Analog Devices, Inc. will post 5.24 EPS for the current fiscal year.
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.
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