New England Research & Management Inc. decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 74.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,700 shares of the semiconductor company’s stock after selling 16,492 shares during the period. New England Research & Management Inc.’s holdings in Analog Devices were worth $547,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. JPMorgan Chase & Co. boosted its stake in Analog Devices by 17.7% during the first quarter. JPMorgan Chase & Co. now owns 22,229,063 shares of the semiconductor company’s stock valued at $2,025,734,000 after buying an additional 3,344,969 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Analog Devices by 30.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,729,787 shares of the semiconductor company’s stock valued at $1,251,195,000 after buying an additional 3,184,232 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Analog Devices during the first quarter valued at approximately $108,490,000. FIL Ltd boosted its stake in Analog Devices by 9,511.9% during the first quarter. FIL Ltd now owns 1,173,424 shares of the semiconductor company’s stock valued at $106,934,000 after buying an additional 1,161,216 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Analog Devices by 2,304.5% during the first quarter. Millennium Management LLC now owns 1,055,409 shares of the semiconductor company’s stock valued at $96,179,000 after buying an additional 1,011,516 shares during the last quarter. 87.34% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. Nomura assumed coverage on Analog Devices in a research report on Wednesday, July 18th. They set a “neutral” rating and a $100.00 price objective on the stock. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research report on Tuesday, July 17th. BidaskClub downgraded Analog Devices from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Loop Capital began coverage on Analog Devices in a report on Thursday, June 21st. They issued a “buy” rating and a $117.00 price target on the stock. Finally, Morgan Stanley increased their price target on Analog Devices from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 31st. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Analog Devices presently has an average rating of “Buy” and an average price target of $104.63.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 30th. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Analog Devices had a return on equity of 20.34% and a net margin of 17.72%. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. equities analysts predict that Analog Devices, Inc. will post 5.8 earnings per share for the current fiscal year.
In related news, SVP Joseph Hassett sold 17,150 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $97.95, for a total value of $1,679,842.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $86.95, for a total value of $869,500.00. Following the completion of the transaction, the chief executive officer now owns 17,376 shares of the company’s stock, valued at approximately $1,510,843.20. The disclosure for this sale can be found here. Insiders sold a total of 87,050 shares of company stock valued at $8,230,432 in the last three months. Insiders own 1.10% of the company’s stock.
Analog Devices Company Profile
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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