Sompo Japan Nipponkoa Asset Management CO. LTD. decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,340 shares of the semiconductor company’s stock after selling 1,470 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Analog Devices were worth $956,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Baird Financial Group Inc. raised its stake in shares of Analog Devices by 7.9% in the second quarter. Baird Financial Group Inc. now owns 133,108 shares of the semiconductor company’s stock valued at $12,768,000 after acquiring an additional 9,798 shares during the period. Home Federal Bank of Tennessee purchased a new stake in shares of Analog Devices in the second quarter valued at $2,067,000. Alps Advisors Inc. purchased a new stake in shares of Analog Devices in the second quarter valued at $272,000. HRT Financial LLC purchased a new stake in shares of Analog Devices in the second quarter valued at $1,013,000. Finally, Swiss National Bank raised its stake in shares of Analog Devices by 3.3% in the second quarter. Swiss National Bank now owns 1,221,748 shares of the semiconductor company’s stock valued at $117,190,000 after acquiring an additional 39,100 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.
In other news, SVP Joseph Hassett sold 12,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $100.40, for a total value of $1,204,800.00. Following the sale, the senior vice president now directly owns 26,711 shares in the company, valued at approximately $2,681,784.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the sale, the chief executive officer now owns 27,376 shares in the company, valued at $2,326,960. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,750 shares of company stock worth $8,561,658. 1.10% of the stock is owned by company insiders.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research note on Thursday, August 23rd. Nomura started coverage on shares of Analog Devices in a research note on Wednesday, July 18th. They issued a “neutral” rating and a $100.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. B. Riley reduced their price target on shares of Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a research note on Thursday, August 23rd. Finally, BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research note on Saturday, August 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $103.70.
Shares of Analog Devices stock opened at $87.59 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. Analog Devices, Inc. has a 1 year low of $76.62 and a 1 year high of $103.59. The stock has a market cap of $32.82 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.23.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 5.93 earnings per share for the current fiscal year.
Analog Devices announced that its board has authorized a share repurchase plan on Tuesday, August 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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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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