Arizona State Retirement System trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 91,117 shares of the semiconductor company’s stock after selling 15,904 shares during the period. Arizona State Retirement System’s holdings in Analog Devices were worth $8,740,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of ADI. Washington Trust Bank raised its holdings in Analog Devices by 127.7% during the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 600 shares during the period. Integrated Investment Consultants LLC purchased a new stake in Analog Devices during the 2nd quarter valued at $130,000. Clarus Wealth Advisors purchased a new stake in Analog Devices during the 2nd quarter valued at $139,000. Summit Trail Advisors LLC raised its holdings in Analog Devices by 6,966.6% during the 1st quarter. Summit Trail Advisors LLC now owns 147,410 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 145,324 shares during the period. Finally, Massey Quick Simon & CO. LLC raised its holdings in Analog Devices by 98.8% during the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,660 shares of the semiconductor company’s stock valued at $151,000 after buying an additional 825 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Peter Real sold 4,595 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $93.07, for a total transaction of $427,656.65. Following the transaction, the senior vice president now owns 18,195 shares of the company’s stock, valued at approximately $1,693,408.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $96.89, for a total value of $968,900.00. The disclosure for this sale can be found here. Insiders sold a total of 80,050 shares of company stock worth $7,712,311 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.
Shares of Analog Devices stock opened at $94.58 on Monday. The firm has a market capitalization of $35.21 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.53. Analog Devices, Inc. has a 52 week low of $76.95 and a 52 week high of $103.59.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.08. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Analog Devices had a return on equity of 20.34% and a net margin of 17.72%. Analog Devices’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS. equities analysts expect that Analog Devices, Inc. will post 5.8 EPS for the current fiscal year.
Several analysts recently weighed in on ADI shares. BidaskClub upgraded Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, May 11th. B. Riley decreased their price target on Analog Devices from $122.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, May 31st. Stifel Nicolaus increased their price target on Analog Devices from $105.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, May 31st. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Tuesday, May 22nd. Finally, Loop Capital started coverage on Analog Devices in a report on Thursday, June 21st. They set a “buy” rating and a $117.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $104.63.
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.
Further Reading: Relative Strength Index
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