Summit Securities Group LLC Buys Shares of 2,700 Analog Devices, Inc. (ADI)

Summit Securities Group LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,700 shares of the semiconductor company’s stock, valued at approximately $233,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Pathstone Family Office LLC grew its position in shares of Analog Devices by 75.0% during the 2nd quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock valued at $1,557,000 after acquiring an additional 15 shares during the period. Pitcairn Co. grew its position in shares of Analog Devices by 0.6% during the 2nd quarter. Pitcairn Co. now owns 4,719 shares of the semiconductor company’s stock valued at $367,000 after acquiring an additional 30 shares during the period. CENTRAL TRUST Co grew its position in shares of Analog Devices by 1.4% during the 2nd quarter. CENTRAL TRUST Co now owns 2,365 shares of the semiconductor company’s stock valued at $184,000 after acquiring an additional 32 shares during the period. Osborn Williams & Donohoe LLC grew its position in shares of Analog Devices by 1.2% during the 2nd quarter. Osborn Williams & Donohoe LLC now owns 2,834 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 34 shares during the period. Finally, Cookson Peirce & Co. Inc. grew its position in shares of Analog Devices by 0.4% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 10,440 shares of the semiconductor company’s stock valued at $812,000 after acquiring an additional 40 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

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Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company’s quarterly revenue was up 64.9% compared to the same quarter last year.

In related news, Director James Champy sold 12,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,125,000.00. Following the sale, the director now owns 21,910 shares of the company’s stock, valued at $1,971,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $77.81, for a total transaction of $233,430.00. Following the sale, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,587,635.24. The disclosure for this sale can be found here. Insiders sold 135,994 shares of company stock worth $11,604,048 in the last three months. Insiders own 1.10% of the company’s stock.

ADI has been the subject of a number of research reports. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 target price on shares of Analog Devices in a research report on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. Drexel Hamilton reissued a “buy” rating and set a $105.00 target price on shares of Analog Devices in a research report on Wednesday, August 30th. B. Riley reissued a “buy” rating and set a $110.00 target price on shares of Analog Devices in a research report on Sunday, August 27th. Finally, BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Eleven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $93.65.

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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