Honeywell International Inc. grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.6% during the second quarter, HoldingsChannel reports. The fund owned 125,700 shares of the semiconductor company’s stock after purchasing an additional 700 shares during the quarter. Honeywell International Inc.’s holdings in Analog Devices were worth $12,057,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Washington Trust Bank grew its stake in Analog Devices by 127.7% in the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after acquiring an additional 600 shares in the last quarter. Integrated Investment Consultants LLC bought a new position in Analog Devices in the 2nd quarter worth about $130,000. Clarus Wealth Advisors bought a new position in Analog Devices in the 2nd quarter worth about $139,000. Massey Quick Simon & CO. LLC lifted its position in shares of Analog Devices by 98.8% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,660 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 825 shares during the period. Finally, Gables Capital Management Inc. purchased a new stake in shares of Analog Devices in the 1st quarter worth approximately $173,000. Institutional investors and hedge funds own 88.03% of the company’s stock.
Several equities research analysts have recently weighed in on ADI shares. BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. B. Riley lowered their price target on shares of Analog Devices from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, May 31st. Stifel Nicolaus upped their price target on shares of Analog Devices from $105.00 to $108.00 and gave the stock a “buy” 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 price target for the company in a research report on Tuesday, May 22nd. Finally, Loop Capital started coverage on shares of Analog Devices in a research report on Thursday, June 21st. They issued a “buy” rating and a $117.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and an average price target of $104.63.
In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $95.43, for a total transaction of $954,300.00. Following the completion of the sale, the chief executive officer now owns 19,699 shares of the company’s stock, valued at $1,879,875.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Margaret K. Seif sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $100.01, for a total transaction of $500,050.00. Following the sale, the senior vice president now directly owns 25,517 shares of the company’s stock, valued at approximately $2,551,955.17. The disclosure for this sale can be found here. Insiders have sold 80,050 shares of company stock valued at $7,712,311 in the last three months. 0.70% of the stock is currently owned by corporate insiders.
NASDAQ:ADI opened at $94.58 on Monday. Analog Devices, Inc. has a 52 week low of $76.95 and a 52 week high of $103.59. 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 company has a market cap of $35.21 billion, a P/E ratio of 20.04, a PEG ratio of 1.32 and a beta of 1.21.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 30th. The semiconductor company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.08. Analog Devices had a net margin of 17.72% and a return on equity of 20.34%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. Analog Devices’s revenue for the quarter was up 31.8% compared to the same quarter last year. equities analysts anticipate that Analog Devices, Inc. will post 5.8 EPS for the current fiscal year.
Analog Devices Company Profile
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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