Analog Devices, Inc. (ADI) Holdings Lifted by Commerce Bank

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Commerce Bank raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.6% in the third quarter, Holdings Channel reports. The firm owned 7,618 shares of the semiconductor company’s stock after buying an additional 794 shares during the quarter. Commerce Bank’s holdings in Analog Devices were worth $704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baird Financial Group Inc. raised its position in Analog Devices by 7.9% during the 2nd quarter. Baird Financial Group Inc. now owns 133,108 shares of the semiconductor company’s stock valued at $12,768,000 after purchasing an additional 9,798 shares during the last quarter. Home Federal Bank of Tennessee bought a new position in Analog Devices during the 2nd quarter valued at approximately $2,067,000. Alps Advisors Inc. bought a new position in Analog Devices during the 2nd quarter valued at approximately $272,000. HRT Financial LLC bought a new position in Analog Devices during the 2nd quarter valued at approximately $1,013,000. Finally, Swiss National Bank raised its position in Analog Devices by 3.3% during the 2nd quarter. Swiss National Bank now owns 1,221,748 shares of the semiconductor company’s stock valued at $117,190,000 after purchasing an additional 39,100 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Peter Real sold 18,650 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $98.92, for a total transaction of $1,844,858.00. Following the completion of the transaction, the senior vice president now owns 32,250 shares of the company’s stock, valued at approximately $3,190,170. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joseph Hassett sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $100.40, for a total value of $1,204,800.00. Following the transaction, the senior vice president now directly owns 26,711 shares of the company’s stock, valued at approximately $2,681,784.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,750 shares of company stock valued at $8,561,658. 1.10% of the stock is owned by corporate insiders.

Shares of NASDAQ:ADI opened at $87.59 on Friday. Analog Devices, Inc. has a 52-week low of $76.62 and a 52-week high of $103.59. The company has a market capitalization of $33.42 billion, a PE ratio of 15.37, a PEG ratio of 1.24 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.58 and a quick ratio of 1.16.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that Analog Devices, Inc. will post 5.93 EPS for the current year.

Analog Devices declared that its board has authorized a share buyback plan on Tuesday, August 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of research analysts have commented on ADI shares. Goldman Sachs Group lowered Analog Devices from a “neutral” rating to a “sell” rating and lowered their price target for the company from $56.00 to $47.00 in a research report on Thursday, October 18th. BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Barclays reaffirmed an “overweight” rating and set a $108.00 price target on shares of Analog Devices in a research report on Wednesday, October 3rd. SunTrust Banks reaffirmed a “buy” rating and set a $118.00 price target on shares of Analog Devices in a research report on Thursday, August 30th. Finally, ValuEngine lowered Analog Devices from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. Analog Devices currently has a consensus rating of “Buy” and an average target price of $103.70.

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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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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