PGGM Investments cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,072 shares of the semiconductor company’s stock after selling 91,457 shares during the period. PGGM Investments owned approximately 0.10% of Analog Devices worth $29,336,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. British Columbia Investment Management Corp boosted its position in Analog Devices by 34.2% in the first quarter. British Columbia Investment Management Corp now owns 208,526 shares of the semiconductor company’s stock worth $17,089,000 after buying an additional 53,139 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in Analog Devices during the first quarter valued at about $63,309,000. Summit Securities Group LLC purchased a new position in Analog Devices during the first quarter valued at about $1,572,000. Norinchukin Bank The raised its position in Analog Devices by 26.5% in the first quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock valued at $1,938,000 after buying an additional 4,956 shares during the last quarter. Finally, Swiss National Bank raised its position in Analog Devices by 51.3% in the first quarter. Swiss National Bank now owns 1,291,248 shares of the semiconductor company’s stock valued at $105,818,000 after buying an additional 437,580 shares during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ:ADI) traded up 0.13% during midday trading on Tuesday, hitting $78.97. The stock had a trading volume of 1,894,162 shares. The firm has a market cap of $28.98 billion, a price-to-earnings ratio of 30.25 and a beta of 1.30. The company’s 50-day moving average price is $79.40 and its 200-day moving average price is $79.49. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the 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 net margin of 20.88% and a return on equity of 19.39%. Analog Devices’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. Equities research analysts forecast that Analog Devices, Inc. will post $4.37 EPS for the current year.
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Several equities analysts recently issued reports on ADI shares. Stephens raised Analog Devices from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $93.00 price target on shares of Analog Devices in a research report on Tuesday, May 9th. Zacks Investment Research lowered Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Monday, May 22nd. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a report on Friday, May 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $89.92.
In other Analog Devices news, CEO Vincent Roche sold 47,500 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the transaction, the chief executive officer now owns 61,484 shares in the company, valued at approximately $5,318,366. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $81.54, for a total transaction of $244,620.00. Following 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 quarter, insiders sold 61,086 shares of company stock worth $5,202,514. 1.10% of the stock is owned by company 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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