DNB Asset Management AS Grows Position in Analog Devices, Inc. $ADI

DNB Asset Management AS boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 16.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,336 shares of the semiconductor company’s stock after acquiring an additional 17,638 shares during the period. DNB Asset Management AS’s holdings in Analog Devices were worth $29,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ADI. Baader Bank Aktiengesellschaft increased its holdings in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock valued at $270,000 after buying an additional 43 shares during the period. Bennett Associates Wealth Management boosted its position in Analog Devices by 2.9% during the 2nd quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $387,000 after acquiring an additional 46 shares in the last quarter. Solstein Capital LLC increased its holdings in shares of Analog Devices by 2.0% in the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after acquiring an additional 46 shares during the period. Keystone Financial Services raised its position in shares of Analog Devices by 1.2% in the 2nd quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock worth $913,000 after acquiring an additional 46 shares in the last quarter. Finally, EFG Asset Management North America Corp. lifted its stake in shares of Analog Devices by 0.3% during the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock worth $2,866,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ADI shares. BNP Paribas assumed coverage on shares of Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 21st. Morgan Stanley increased their target price on shares of Analog Devices from $273.00 to $288.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Cantor Fitzgerald lifted their price target on shares of Analog Devices from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Finally, KeyCorp increased their price objective on Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.42.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the transaction, the director directly owned 5,118 shares in the company, valued at $1,242,343.32. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $246.92, for a total value of $771,625.00. Following the sale, the director directly owned 155,071 shares of the company’s stock, valued at $38,290,131.32. This trade represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,750 shares of company stock valued at $14,684,296 over the last three months. Company insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 3.2%

NASDAQ ADI opened at $232.32 on Friday. The company has a fifty day simple moving average of $238.78 and a two-hundred day simple moving average of $234.53. The stock has a market cap of $114.29 billion, a P/E ratio of 59.27, a P/E/G ratio of 1.98 and a beta of 1.09. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $258.13. The company has a current ratio of 2.32, a quick ratio of 1.79 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.10. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.76 billion. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 earnings per share. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.