Swiss National Bank lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,201,848 shares of the semiconductor company’s stock after selling 33,700 shares during the quarter. Swiss National Bank owned approximately 0.33% of Analog Devices worth $135,653,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ADI. Findlay Park Partners LLP grew its holdings in Analog Devices by 132.7% during the 1st quarter. Findlay Park Partners LLP now owns 1,660,237 shares of the semiconductor company’s stock worth $174,773,000 after acquiring an additional 946,883 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Analog Devices during the 1st quarter worth about $56,345,000. The Manufacturers Life Insurance Company grew its holdings in Analog Devices by 42.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,801,429 shares of the semiconductor company’s stock worth $189,636,000 after acquiring an additional 533,882 shares during the last quarter. Columbus Circle Investors bought a new stake in Analog Devices during the 1st quarter worth about $38,702,000. Finally, Boussard & Gavaudan Investment Management LLP grew its holdings in Analog Devices by 4,118.6% during the 1st quarter. Boussard & Gavaudan Investment Management LLP now owns 372,168 shares of the semiconductor company’s stock worth $39,193,000 after acquiring an additional 363,346 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.
ADI has been the topic of a number of research analyst reports. 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. Piper Jaffray Companies raised their target price on shares of Analog Devices from $118.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. SunTrust Banks reduced their target price on shares of Analog Devices to $122.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. BidaskClub lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Nomura began coverage on shares of Analog Devices in a research note on Monday, June 3rd. They issued a “neutral” rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Analog Devices has a consensus rating of “Buy” and an average target price of $109.94.
Shares of NASDAQ ADI traded up $2.07 during mid-day trading on Friday, hitting $110.52. The company’s stock had a trading volume of 2,576,200 shares, compared to its average volume of 2,276,000. The stock has a market cap of $40.87 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.70 and a beta of 1.41. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.08. Analog Devices, Inc. has a one year low of $76.62 and a one year high of $124.79. The company’s fifty day simple moving average is $114.64 and its 200-day simple moving average is $108.97.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. Analog Devices’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.45 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 5.24 EPS for the current year.
In related news, SVP Yusuf Jamal sold 31,867 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total value of $3,129,020.73. Following the sale, the senior vice president now directly owns 2,124 shares in the company, valued at approximately $208,555.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 14,880 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $110.51, for a total transaction of $1,644,388.80. Following the completion of the sale, the director now owns 16,520 shares in the company, valued at $1,825,625.20. The disclosure for this sale can be found here. Insiders sold a total of 102,266 shares of company stock worth $11,006,074 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.
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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