Pendal Group Ltd lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 14.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,411 shares of the semiconductor company’s stock after purchasing an additional 12,935 shares during the period. Pendal Group Ltd’s holdings in Analog Devices were worth $11,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lenox Wealth Advisors LLC purchased a new stake in Analog Devices in the 2nd quarter worth $28,000. Berman Capital Advisors LLC increased its holdings in Analog Devices by 43.8% in the 1st quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 91 shares in the last quarter. Mcmillion Capital Management Inc. purchased a new stake in Analog Devices in the 2nd quarter worth $44,000. Hanson McClain Inc. increased its holdings in Analog Devices by 44.8% in the 1st quarter. Hanson McClain Inc. now owns 459 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 142 shares in the last quarter. Finally, Thor Advisors LLC purchased a new stake in Analog Devices in the 1st quarter worth $67,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.
In related news, SVP Steve Pietkiewicz sold 7,219 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $113.03, for a total value of $815,963.57. Following the completion of the sale, the senior vice president now owns 29,870 shares of the company’s stock, valued at $3,376,206.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Yusuf Jamal sold 31,867 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the completion of the sale, the senior vice president now directly owns 2,124 shares of the company’s stock, valued at approximately $208,555.56. The disclosure for this sale can be found here. Insiders sold 102,266 shares of company stock valued at $11,006,074 in the last three months. 0.50% of the stock is currently owned by insiders.
Shares of ADI traded up $3.73 during mid-day trading on Tuesday, reaching $112.69. The stock had a trading volume of 1,906,028 shares, compared to its average volume of 2,198,638. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.52. Analog Devices, Inc. has a 52-week low of $76.62 and a 52-week high of $124.79. The company has a fifty day moving average of $114.76. The stock has a market capitalization of $41.66 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 1.70 and a beta of 1.41.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. Analog Devices’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast that Analog Devices, Inc. will post 5.24 EPS for the current fiscal year.
ADI has been the subject of several recent analyst reports. Nomura initiated coverage on shares of Analog Devices in a report on Monday, June 3rd. They issued a “neutral” rating and a $90.00 price target for the company. Zacks Investment Research lowered shares of Analog Devices from a “hold” rating to a “strong sell” rating and set a $102.00 price target for the company. in a report on Wednesday, May 29th. BidaskClub lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Piper Jaffray Companies boosted their price target on shares of Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, Royal Bank of Canada dropped their target price on shares of Analog Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Analog Devices presently has an average rating of “Buy” and an average price target of $109.94.
Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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