Signaturefd LLC increased its position in Analog Devices Inc. (NASDAQ:ADI) by 347.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,977 shares of the company’s stock after buying an additional 2,311 shares during the period. Signaturefd LLC’s holdings in Analog Devices were worth $169,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ADI. NN Investment Partners Holdings N.V. bought a new stake in Analog Devices during the first quarter worth approximately $105,000. Meeder Asset Management Inc. bought a new stake in Analog Devices during the first quarter worth approximately $112,000. Quadrant Capital Group LLC increased its stake in Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock worth $131,000 after buying an additional 384 shares during the period. Virginia Retirement System bought a new stake in Analog Devices during the first quarter worth approximately $300,000. Finally, Creative Planning increased its stake in Analog Devices by 31.6% in the second quarter. Creative Planning now owns 6,953 shares of the company’s stock worth $394,000 after buying an additional 1,668 shares during the period. Institutional investors own 85.71% of the company’s stock.
Analog Devices Inc. (NASDAQ:ADI) traded up 2.31% during midday trading on Friday, hitting $62.11. 3,133,824 shares of the stock traded hands. The stock has a market capitalization of $19.10 billion, a PE ratio of 29.34 and a beta of 1.25. The firm’s 50 day moving average is $62.72 and its 200-day moving average is $59.86. Analog Devices Inc. has a 12-month low of $47.24 and a 12-month high of $66.91.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.07. Analog Devices had a return on equity of 19.40% and a net margin of 19.49%. The business earned $870 million during the quarter, compared to the consensus estimate of $847.43 million. During the same quarter last year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts anticipate that Analog Devices Inc. will post $2.92 EPS for the current fiscal year.
Several equities analysts have recently issued reports on ADI shares. Evercore ISI raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Wednesday, July 27th. Stifel Nicolaus lifted their price objective on shares of Analog Devices from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. Drexel Hamilton lifted their price objective on shares of Analog Devices from $62.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Bank of America Corp. cut shares of Analog Devices from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $61.00 to $60.00 in a research note on Monday, June 27th. Finally, Zacks Investment Research raised shares of Analog Devices from a “sell” rating to a “hold” rating and set a $72.00 price objective on the stock in a research note on Thursday, July 28th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and an average target price of $70.64.
In other news, VP Eileen Wynne sold 2,504 shares of Analog Devices stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $64.25, for a total transaction of $160,882.00. Following the completion of the sale, the vice president now owns 1,297 shares of the company’s stock, valued at $83,332.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Zinsner sold 15,000 shares of Analog Devices stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $64.33, for a total value of $964,950.00. Following the sale, the senior vice president now directly owns 35,897 shares of the company’s stock, valued at approximately $2,309,254.01. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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