Perigon Wealth Management LLC decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,848 shares of the semiconductor company’s stock after selling 191 shares during the period. Perigon Wealth Management LLC’s holdings in Analog Devices were worth $349,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ADI. Stratos Wealth Partners LTD. grew its holdings in Analog Devices by 13.8% in the 1st quarter. Stratos Wealth Partners LTD. now owns 6,160 shares of the semiconductor company’s stock valued at $552,000 after buying an additional 747 shares during the last quarter. Private Trust Co. NA grew its holdings in Analog Devices by 7.7% in the 2nd quarter. Private Trust Co. NA now owns 16,867 shares of the semiconductor company’s stock valued at $2,085,000 after buying an additional 1,208 shares during the last quarter. Robecosam AG grew its holdings in Analog Devices by 9.0% in the 2nd quarter. Robecosam AG now owns 449,000 shares of the semiconductor company’s stock valued at $55,065,000 after buying an additional 37,000 shares during the last quarter. DNB Asset Management AS grew its holdings in Analog Devices by 10.2% in the 2nd quarter. DNB Asset Management AS now owns 41,209 shares of the semiconductor company’s stock valued at $5,054,000 after buying an additional 3,820 shares during the last quarter. Finally, J. W. Coons Advisors LLC acquired a new stake in Analog Devices in the 1st quarter valued at approximately $325,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ ADI opened at $114.85 on Friday. The business’s 50 day moving average price is $119.00 and its two-hundred day moving average price is $110.55. The company has a market cap of $42.31 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 1.85 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 0.44. Analog Devices, Inc. has a twelve month low of $79.07 and a twelve month high of $127.39.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. Analog Devices had a return on equity of 14.51% and a net margin of 20.05%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. The firm’s revenue for the quarter was down 13.7% on a year-over-year basis. As a group, research analysts anticipate that Analog Devices, Inc. will post 4.65 EPS for the current fiscal year.
A number of analysts have commented on the company. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “strong-buy” rating and set a $132.00 price objective for the company in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. reduced their price objective on Analog Devices from $134.00 to $119.00 and set a “neutral” rating for the company in a research report on Thursday, May 21st. KeyCorp raised their target price on Analog Devices from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley raised their target price on Analog Devices from $101.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 16th. Finally, Robert W. Baird dropped their price target on Analog Devices from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $125.68.
In related news, SVP Steve Pietkiewicz sold 3,710 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $123.29, for a total value of $457,405.90. Also, Director Edward H. Frank sold 8,460 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $113.42, for a total value of $959,533.20. Following the completion of the sale, the director now owns 19,775 shares of the company’s stock, valued at $2,242,880.50. The disclosure for this sale can be found here. Insiders sold 14,325 shares of company stock worth $1,661,769 in the last ninety days. 0.42% of the stock is owned by company insiders.
Analog Devices 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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