Wright Investors Service Inc. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 66.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,288 shares of the semiconductor company’s stock after purchasing an additional 2,118 shares during the quarter. Wright Investors Service Inc.’s holdings in Analog Devices were worth $455,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Analog Devices by 3.0% during the second quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock valued at $2,260,331,000 after purchasing an additional 847,762 shares in the last quarter. BlackRock Inc. lifted its holdings in Analog Devices by 6.2% during the second quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after purchasing an additional 1,437,338 shares in the last quarter. State Street Corp lifted its holdings in Analog Devices by 20.0% during the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock valued at $1,225,852,000 after purchasing an additional 2,493,568 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Analog Devices by 54.1% during the second quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock valued at $719,786,000 after purchasing an additional 3,248,336 shares in the last quarter. Finally, FMR LLC lifted its holdings in Analog Devices by 14.6% during the second quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock valued at $691,608,000 after purchasing an additional 1,132,549 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company earned $0.82 EPS. The company’s revenue for the quarter was up 64.9% on a year-over-year basis.
In related news, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.81, for a total transaction of $233,430.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,587,635.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the sale, the director now directly owns 234,481 shares of the company’s stock, valued at $19,579,163.50. The disclosure for this sale can be found here. Insiders sold a total of 135,994 shares of company stock valued at $11,604,048 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
Several brokerages have weighed in on ADI. B. Riley reaffirmed a “buy” rating and set a $110.00 price target on shares of Analog Devices in a report on Sunday, August 27th. Royal Bank Of Canada lifted their price objective on shares of Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. BidaskClub cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. ValuEngine cut shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Finally, Instinet upgraded shares of Analog Devices from a “reduce” rating to a “neutral” rating and lifted their price objective for the company from $72.50 to $80.00 in a research report on Thursday, August 31st. Eleven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $93.65.
Analog Devices 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.
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