First Manhattan Co. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,516 shares of the semiconductor company’s stock after selling 1,703 shares during the quarter. First Manhattan Co.’s holdings in Analog Devices were worth $2,791,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. First American Bank raised its stake in Analog Devices by 1.7% in the 1st quarter. First American Bank now owns 9,628 shares of the semiconductor company’s stock valued at $1,014,000 after purchasing an additional 161 shares during the last quarter. Riverbridge Partners LLC raised its stake in Analog Devices by 7.6% in the 1st quarter. Riverbridge Partners LLC now owns 501,781 shares of the semiconductor company’s stock valued at $52,822,000 after purchasing an additional 35,586 shares during the last quarter. Kaizen Advisory LLC raised its stake in Analog Devices by 11.7% in the 4th quarter. Kaizen Advisory LLC now owns 1,023 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 107 shares during the last quarter. Mondrian Capital Management LLC acquired a new position in Analog Devices in the 4th quarter valued at $86,000. Finally, Cetera Investment Advisers raised its stake in Analog Devices by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 11,904 shares of the semiconductor company’s stock valued at $1,022,000 after purchasing an additional 318 shares during the last quarter. 91.34% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Martin Cotter sold 680 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $109.62, for a total transaction of $74,541.60. Following the completion of the transaction, the senior vice president now directly owns 173 shares in the company, valued at approximately $18,964.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ray Stata sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $107.68, for a total value of $2,153,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,570 shares of company stock valued at $10,732,094. Company insiders own 0.50% of the company’s stock.
A number of analysts have issued reports on ADI shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Analog Devices in a research note on Wednesday, December 19th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $118.00 target price on shares of Analog Devices in a research note on Wednesday, February 20th. Oppenheimer raised their target price on Analog Devices to $117.00 and gave the stock an “outperform” rating in a research note on Thursday, February 21st. Zacks Investment Research raised Analog Devices from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Barclays reaffirmed a “hold” rating and issued a $102.00 target price on shares of Analog Devices in a research note on Friday, January 18th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $102.86.
NASDAQ ADI opened at $112.94 on Tuesday. The firm has a market cap of $42.07 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 1.64. Analog Devices, Inc. has a twelve month low of $76.62 and a twelve month high of $114.59.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 EPS. As a group, equities analysts expect that Analog Devices, Inc. will post 5.45 earnings per share for the current year.
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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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