Ceredex Value Advisors LLC acquired a new position in Analog Devices (NASDAQ:ADI) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,190,502 shares of the semiconductor company’s stock, valued at approximately $108,490,000. Analog Devices makes up approximately 1.3% of Ceredex Value Advisors LLC’s holdings, making the stock its 6th largest position. Ceredex Value Advisors LLC owned approximately 0.32% of Analog Devices as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the business. Atria Investments LLC boosted its stake in shares of Analog Devices by 17.7% during the 4th quarter. Atria Investments LLC now owns 13,654 shares of the semiconductor company’s stock worth $1,216,000 after purchasing an additional 2,053 shares during the period. Pennsylvania Trust Co purchased a new position in shares of Analog Devices during the 4th quarter worth about $1,750,000. Bank of Montreal Can boosted its stake in shares of Analog Devices by 22.4% during the 4th quarter. Bank of Montreal Can now owns 244,567 shares of the semiconductor company’s stock worth $21,774,000 after purchasing an additional 44,816 shares during the period. National Pension Service boosted its stake in shares of Analog Devices by 4.4% during the 4th quarter. National Pension Service now owns 371,629 shares of the semiconductor company’s stock worth $33,086,000 after purchasing an additional 15,770 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Analog Devices during the 4th quarter worth about $323,000. 88.88% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $89.89, for a total value of $898,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Margaret K. Seif sold 7,000 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $88.83, for a total transaction of $621,810.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,106 shares of company stock valued at $6,060,346. Company insiders own 1.10% of the company’s stock.
Shares of ADI opened at $95.04 on Friday. Analog Devices has a 1-year low of $93.58 and a 1-year high of $94.49. The stock has a market cap of $34.60 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.38 and a beta of 1.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.76 and a quick ratio of 1.31.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Analog Devices had a net margin of 13.80% and a return on equity of 18.78%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business posted $0.94 EPS. The firm’s revenue for the quarter was up 54.4% on a year-over-year basis. research analysts forecast that Analog Devices will post 5.63 EPS for the current fiscal year.
A number of equities analysts recently commented on ADI shares. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday, April 4th. SunTrust Banks lifted their price target on shares of Analog Devices to $116.00 and gave the stock a “positive” rating in a research note on Thursday, April 12th. They noted that the move was a valuation call. Sanford C. Bernstein raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research note on Tuesday, February 20th. KeyCorp lifted their price target on shares of Analog Devices from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, March 1st. Finally, Nomura lifted their price target on shares of Analog Devices from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, March 1st. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $101.21.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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