Verition Fund Management LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,723 shares of the semiconductor company’s stock, valued at approximately $1,316,000.
Other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Bank grew its holdings in shares of Analog Devices by 127.7% during the second quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 600 shares during the last quarter. Fort L.P. bought a new position in Analog Devices in the second quarter valued at about $117,000. Integrated Investment Consultants LLC bought a new position in Analog Devices in the second quarter valued at about $130,000. Clarus Wealth Advisors bought a new position in Analog Devices in the second quarter valued at about $139,000. Finally, Summit Trail Advisors LLC boosted its holdings in Analog Devices by 401.2% in the first quarter. Summit Trail Advisors LLC now owns 10,455 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 8,369 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.
ADI has been the topic of several recent research reports. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Barclays reiterated an “overweight” rating and issued a $108.00 price target on shares of Analog Devices in a report on Wednesday, October 3rd. SunTrust Banks reiterated a “buy” rating and issued a $118.00 price target on shares of Analog Devices in a report on Thursday, August 30th. ValuEngine cut Analog Devices from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, KeyCorp began coverage on Analog Devices in a report on Tuesday, September 25th. They set a “sector weight” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $106.77.
Analog Devices stock traded up $0.50 during midday trading on Friday, reaching $84.17. The stock had a trading volume of 3,573,665 shares, compared to its average volume of 2,777,109. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.16 and a current ratio of 1.58. The firm has a market cap of $34.36 billion, a PE ratio of 17.83, a P/E/G ratio of 1.27 and a beta of 1.20. Analog Devices, Inc. has a 1-year low of $80.95 and a 1-year high of $103.59.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.07. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 5.89 EPS for the current year.
Analog Devices announced that its board has initiated a stock buyback plan on Tuesday, August 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
About Analog Devices
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.
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.