Notis McConarty Edward raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,556 shares of the semiconductor company’s stock after buying an additional 1,251 shares during the period. Analog Devices accounts for about 1.6% of Notis McConarty Edward’s portfolio, making the stock its 21st largest position. Notis McConarty Edward’s holdings in Analog Devices were worth $2,455,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in shares of Analog Devices during the first quarter valued at $100,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares during the period. Jacobus Wealth Management Inc. purchased a new stake in shares of Analog Devices during the first quarter valued at $113,000. Heritage Trust Co purchased a new stake in shares of Analog Devices during the first quarter valued at $114,000. Finally, Guardian Life Insurance Co. of America boosted its stake in shares of Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the period. 87.76% of the stock is owned by institutional investors and hedge funds.
Shares of Analog Devices, Inc. (NASDAQ:ADI) traded up 0.13% on Tuesday, reaching $78.97. The company had a trading volume of 1,892,674 shares. The firm has a market cap of $28.98 billion, a P/E ratio of 30.25 and a beta of 1.30. The company has a 50-day moving average price of $79.40 and a 200-day moving average price of $79.49. Analog Devices, Inc. has a one year low of $59.01 and a one year high of $90.49.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. On average, analysts expect that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
A number of research firms have weighed in on ADI. B. Riley reissued a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a report on Tuesday, May 30th. UBS AG reaffirmed a “neutral” rating and issued a $94.00 target price (up from $83.00) on shares of Analog Devices in a report on Saturday, June 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research report on Monday, May 22nd. Stephens upgraded shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Finally, BidaskClub lowered shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Analog Devices has a consensus rating of “Buy” and a consensus price target of $89.92.
In other news, CEO Vincent Roche sold 47,500 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 61,484 shares in the company, valued at approximately $5,318,366. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Evans purchased 14,000 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was purchased at an average price of $78.28 per share, with a total value of $1,095,920.00. Following the completion of the purchase, the director now directly owns 67,540 shares in the company, valued at approximately $5,287,031.20. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 61,086 shares of company stock worth $5,202,514. 1.10% of the stock is owned by corporate insiders.
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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