Sunbelt Securities Inc. raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 24.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,955 shares of the semiconductor company’s stock after buying an additional 963 shares during the period. Sunbelt Securities Inc.’s holdings in Analog Devices were worth $475,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ADI. JPMorgan Chase & Co. lifted its position in Analog Devices by 17.7% during the first quarter. JPMorgan Chase & Co. now owns 22,229,063 shares of the semiconductor company’s stock valued at $2,025,734,000 after buying an additional 3,344,969 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Analog Devices by 23.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,929,042 shares of the semiconductor company’s stock valued at $1,623,835,000 after buying an additional 3,199,255 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in Analog Devices during the first quarter valued at approximately $108,490,000. FIL Ltd lifted its position in Analog Devices by 9,511.9% during the first quarter. FIL Ltd now owns 1,173,424 shares of the semiconductor company’s stock valued at $106,934,000 after buying an additional 1,161,216 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Analog Devices by 2,304.5% during the first quarter. Millennium Management LLC now owns 1,055,409 shares of the semiconductor company’s stock valued at $96,179,000 after buying an additional 1,011,516 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ADI opened at $94.58 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.14. The firm has a market capitalization of $35.21 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.32 and a beta of 1.21. Analog Devices, Inc. has a 12-month low of $76.95 and a 12-month high of $103.59.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 30th. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Analog Devices had a net margin of 17.72% and a return on equity of 20.34%. The business’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. equities research analysts predict that Analog Devices, Inc. will post 5.8 earnings per share for the current year.
In related news, SVP Joseph Hassett sold 17,150 shares of Analog Devices stock in a transaction on Friday, June 1st. The shares were sold at an average price of $97.95, for a total value of $1,679,842.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, June 1st. The stock was sold at an average price of $96.89, for a total transaction of $968,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,050 shares of company stock valued at $7,712,311. Insiders own 0.70% of the company’s stock.
A number of research analysts have recently commented on the stock. BidaskClub cut shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Loop Capital assumed coverage on shares of Analog Devices in a research report on Thursday, June 21st. They set a “buy” rating and a $117.00 target price on the stock. Piper Jaffray Companies boosted their target price on shares of Analog Devices from $99.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, May 31st. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research report on Tuesday, May 22nd. Finally, Sanford C. Bernstein boosted their target price on shares of Analog Devices from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Analog Devices currently has a consensus rating of “Buy” and a consensus price target of $104.63.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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