Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,171 shares of the semiconductor company’s stock after selling 748 shares during the period. Cigna Investments Inc. New’s holdings in Analog Devices were worth $1,103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in Analog Devices during the first quarter valued at approximately $100,000. Whittier Trust Co. of Nevada Inc. increased its stake in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares during the period. Jacobus Wealth Management Inc. acquired a new stake in Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co acquired a new stake in Analog Devices during the first quarter valued at approximately $114,000. Finally, Guardian Life Insurance Co. of America increased its stake in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the period. Institutional investors and hedge funds own 87.76% of the company’s stock.

Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 76.83 on Friday. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49. The firm has a market capitalization of $28.20 billion, a PE ratio of 29.43 and a beta of 1.30. The company has a 50-day moving average of $79.20 and a 200-day moving average of $79.65.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. Analog Devices’s revenue was up 41.2% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. On average, equities analysts forecast that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.

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ADI has been the subject of several research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $97.00 price target (up previously from $95.00) on shares of Analog Devices in a research report on Thursday, June 1st. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 price target (up previously from $93.00) on shares of Analog Devices in a research report on Wednesday, May 31st. B. Riley reiterated a “buy” rating and issued a $103.00 price target on shares of Analog Devices in a research report on Tuesday, May 30th. Credit Suisse Group reiterated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Friday, May 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.92.

In related news, SVP Peter Real sold 4,505 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $80.07, for a total value of $360,715.35. Following the completion of the sale, the senior vice president now owns 13,531 shares of the company’s stock, valued at approximately $1,083,427.17. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $81.54, for a total value of $244,620.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,663,742.16. The disclosure for this sale can be found here. Insiders sold a total of 61,086 shares of company stock worth $5,202,514 in the last three months. 1.10% of the stock is currently owned by company insiders.

Analog Devices Company Profile

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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

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