Vaughan Nelson Investment Management L.P. Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Vaughan Nelson Investment Management L.P. decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 173,085 shares of the semiconductor company’s stock after selling 4,590 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Analog Devices were worth $19,339,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Analog Devices by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 31,611,473 shares of the semiconductor company’s stock worth $3,567,986,000 after buying an additional 506,468 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Analog Devices by 1.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,890,839 shares of the semiconductor company’s stock valued at $2,110,675,000 after purchasing an additional 310,719 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Analog Devices by 3.6% in the 2nd quarter. Wells Fargo & Company MN now owns 7,579,610 shares of the semiconductor company’s stock valued at $855,510,000 after purchasing an additional 260,484 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Analog Devices by 164.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,636,929 shares of the semiconductor company’s stock valued at $636,240,000 after purchasing an additional 3,502,958 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Analog Devices by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,937,825 shares of the semiconductor company’s stock valued at $331,591,000 after purchasing an additional 84,299 shares during the last quarter. Institutional investors and hedge funds own 87.58% of the company’s stock.

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $92.34, for a total value of $923,400.00. Following the completion of the transaction, the chief executive officer now directly owns 351,335 shares of the company’s stock, valued at $32,442,273.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 1,463 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $109.75, for a total value of $160,564.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,362 shares of company stock valued at $5,780,793. 0.50% of the stock is currently owned by insiders.

Several research analysts have weighed in on the company. Daiwa Capital Markets assumed coverage on Analog Devices in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $121.00 target price on the stock. ValuEngine downgraded Analog Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays upgraded Analog Devices from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $105.00 to $130.00 in a research note on Thursday, September 12th. Raymond James raised Analog Devices from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Wednesday, October 30th. Finally, BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $114.33.

ADI stock traded down $0.86 during midday trading on Thursday, hitting $113.31. 103,926 shares of the stock were exchanged, compared to its average volume of 2,164,071. The stock’s 50-day moving average price is $110.37 and its 200-day moving average price is $110.34. The stock has a market cap of $41.58 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.03 and a beta of 1.42. Analog Devices, Inc. has a fifty-two week low of $80.08 and a fifty-two week high of $124.79. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.35.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.04. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Analog Devices had a return on equity of 17.87% and a net margin of 24.71%. Analog Devices’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 5.2 EPS for the current 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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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