First Quadrant L P CA acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,754 shares of the semiconductor company’s stock, valued at approximately $460,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its stake in shares of Analog Devices by 2.8% in the first quarter. Checchi Capital Advisers LLC now owns 3,538 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 98 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Analog Devices by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the semiconductor company’s stock worth $1,938,000 after acquiring an additional 100 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Analog Devices by 1.0% in the second quarter. Banque Cantonale Vaudoise now owns 9,839 shares of the semiconductor company’s stock worth $1,206,000 after acquiring an additional 100 shares during the last quarter. FineMark National Bank & Trust lifted its position in Analog Devices by 3.9% in the first quarter. FineMark National Bank & Trust now owns 2,704 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 101 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in Analog Devices by 16.5% in the second quarter. Valeo Financial Advisors LLC now owns 729 shares of the semiconductor company’s stock worth $89,000 after purchasing an additional 103 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Stifel Nicolaus raised their target price on Analog Devices from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Zacks Investment Research raised Analog Devices from a “hold” rating to a “strong-buy” rating and set a $132.00 price objective for the company in a report on Wednesday, July 22nd. JPMorgan Chase & Co. cut their price objective on Analog Devices from $134.00 to $119.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. Credit Suisse Group lifted their price objective on Analog Devices from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Finally, Edward Jones cut Analog Devices from a “buy” rating to a “hold” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Analog Devices currently has an average rating of “Buy” and a consensus price target of $125.68.
NASDAQ:ADI opened at $114.85 on Friday. Analog Devices, Inc. has a fifty-two week low of $79.07 and a fifty-two week high of $127.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.30 and a quick ratio of 0.92. The stock has a market capitalization of $42.85 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The business’s 50-day simple moving average is $119.00 and its 200-day simple moving average is $110.55.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.03. Analog Devices had a return on equity of 14.51% and a net margin of 20.05%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $1.36 EPS. Analog Devices’s revenue for the quarter was down 13.7% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 4.65 earnings per share for the current year.
In other Analog Devices news, Director James Champy sold 2,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $113.61, for a total value of $244,829.55. Following the sale, the director now owns 12,415 shares in the company, valued at approximately $1,410,468.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Steve Pietkiewicz sold 3,710 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $123.29, for a total value of $457,405.90. Insiders have sold a total of 14,325 shares of company stock worth $1,661,769 in the last quarter. 0.42% of the stock is currently owned by company 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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