Perigon Wealth Management LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 45,504 shares of the semiconductor company’s stock after buying an additional 2,704 shares during the period. Perigon Wealth Management LLC’s holdings in Analog Devices were worth $3,729,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Columbia Partners L L C Investment Management boosted its position in shares of Analog Devices by 6.2% in the first quarter. Columbia Partners L L C Investment Management now owns 19,730 shares of the semiconductor company’s stock valued at $1,616,000 after buying an additional 1,158 shares during the last quarter. Aviance Capital Management LLC purchased a new position in shares of Analog Devices during the first quarter valued at about $226,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Analog Devices during the first quarter valued at about $18,087,000. Ballentine Partners LLC boosted its position in shares of Analog Devices by 1.2% in the first quarter. Ballentine Partners LLC now owns 7,006 shares of the semiconductor company’s stock valued at $574,000 after buying an additional 85 shares during the last quarter. Finally, HM Payson & Co. boosted its position in shares of Analog Devices by 4.6% in the first quarter. HM Payson & Co. now owns 3,935 shares of the semiconductor company’s stock valued at $322,000 after buying an additional 174 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices, Inc. (NASDAQ ADI) traded down 2.34% during mid-day trading on Friday, reaching $78.96. The company’s stock had a trading volume of 3,122,467 shares. The company has a market cap of $28.98 billion, a PE ratio of 30.24 and a beta of 1.30. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49. The firm’s 50 day moving average is $79.87 and its 200-day moving average is $79.05.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.18. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. Equities analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
Several brokerages have issued reports on ADI. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. B. Riley reissued a “buy” rating and issued a $103.00 target price on shares of Analog Devices in a research report on Tuesday, June 27th. Raymond James Financial, Inc. began coverage on Analog Devices in a research report on Friday, June 16th. They issued a “market perform” rating on the stock. UBS AG reissued a “neutral” rating and issued a $94.00 target price (up from $83.00) on shares of Analog Devices in a research report on Saturday, June 3rd. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $100.00 target price on shares of Analog Devices in a research report on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and a consensus price target of $88.86.
In other news, CEO Vincent Roche sold 47,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total value of $4,108,750.00. Following the transaction, the chief executive officer now owns 61,484 shares in the company, valued at $5,318,366. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $81.54, for a total value of $244,620.00. Following the completion of the transaction, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,663,742.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,581 shares of company stock worth $5,081,798. Company insiders own 1.10% of the company’s stock.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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