Bright Rock Capital Management LLC boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 88.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,000 shares of the semiconductor company’s stock after buying an additional 8,000 shares during the quarter. Bright Rock Capital Management LLC’s holdings in Analog Devices were worth $1,919,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in ADI. Berman Capital Advisors LLC lifted its holdings in Analog Devices by 43.8% in the first quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 91 shares during the period. TCI Wealth Advisors Inc. boosted its position in Analog Devices by 820.0% during the first quarter. TCI Wealth Advisors Inc. now owns 322 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 287 shares during the period. Liberty Wealth Management LLC purchased a new stake in Analog Devices during the fourth quarter valued at about $33,000. Massmutual Trust Co. FSB ADV purchased a new stake in Analog Devices during the fourth quarter valued at about $34,000. Finally, Hanson McClain Inc. boosted its position in Analog Devices by 44.8% during the first quarter. Hanson McClain Inc. now owns 459 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 142 shares during the period. 89.49% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on ADI. Piper Jaffray Companies lowered shares of Acacia Communications from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $70.00 in a report on Tuesday, July 9th. Royal Bank of Canada reduced their target price on shares of Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. SunTrust Banks reduced their target price on shares of Analog Devices to $122.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. BidaskClub downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Finally, ValuEngine downgraded shares of Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Analog Devices presently has an average rating of “Buy” and an average price target of $109.94.
NASDAQ:ADI traded up $2.21 during mid-day trading on Tuesday, hitting $119.92. 2,305,200 shares of the stock traded hands, compared to its average volume of 2,752,546. The stock has a market cap of $42.81 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.43. Analog Devices, Inc. has a 52 week low of $76.62 and a 52 week high of $119.93. The stock has a 50 day moving average price of $110.82. The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.48.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.30 by $0.06. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 EPS. Research analysts predict that Analog Devices, Inc. will post 5.24 EPS for the current fiscal year.
In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.50, for a total transaction of $1,165,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Yusuf Jamal sold 31,867 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the transaction, the senior vice president now owns 2,124 shares in the company, valued at $208,555.56. The disclosure for this sale can be found here. Insiders have sold a total of 94,006 shares of company stock worth $9,987,148 over the last quarter. 0.50% of the stock is currently owned by insiders.
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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