Kessler Investment Group LLC Trims Stake in Analog Devices, Inc. (ADI)

Kessler Investment Group LLC trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,905 shares of the semiconductor company’s stock after selling 1,501 shares during the period. Analog Devices accounts for about 1.2% of Kessler Investment Group LLC’s holdings, making the stock its 22nd largest holding. Kessler Investment Group LLC’s holdings in Analog Devices were worth $1,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its position in Analog Devices by 23.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,929,042 shares of the semiconductor company’s stock worth $1,623,835,000 after purchasing an additional 3,199,255 shares during the period. Morgan Stanley lifted its stake in Analog Devices by 19.9% in the 2nd quarter. Morgan Stanley now owns 7,076,283 shares of the semiconductor company’s stock valued at $678,754,000 after buying an additional 1,172,933 shares in the last quarter. Millennium Management LLC lifted its stake in Analog Devices by 2,304.5% in the 1st 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 in the last quarter. FMR LLC lifted its stake in Analog Devices by 3.9% in the 2nd quarter. FMR LLC now owns 9,175,704 shares of the semiconductor company’s stock valued at $880,133,000 after buying an additional 348,581 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in Analog Devices in the 2nd quarter valued at approximately $33,143,000. 88.20% of the stock is owned by institutional investors.

In other Analog Devices news, SVP Joseph Hassett sold 12,000 shares of Analog Devices stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $100.40, for a total value of $1,204,800.00. Following the transaction, the senior vice president now owns 26,711 shares in the company, valued at $2,681,784.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the transaction, the chief executive officer now owns 27,376 shares in the company, valued at approximately $2,326,960. The disclosure for this sale can be found here. Insiders have sold 86,050 shares of company stock worth $8,318,658 in the last quarter. Company insiders own 0.70% of the company’s stock.

Shares of NASDAQ ADI opened at $87.96 on Wednesday. The stock has a market capitalization of $32.40 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. Analog Devices, Inc. has a 52-week low of $76.62 and a 52-week high of $103.59.

Analog Devices (NASDAQ:ADI) last released 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. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. As a group, analysts anticipate that Analog Devices, Inc. will post 5.93 EPS for the current fiscal year.

Analog Devices declared that its board has authorized a stock repurchase program on Tuesday, August 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

A number of research analysts have weighed in on the company. ValuEngine raised Analog Devices from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Barclays cut their target price on Analog Devices from $105.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 23rd. Goldman Sachs Group lowered Analog Devices from a “neutral” rating to a “sell” rating and cut their target price for the stock from $56.00 to $47.00 in a research report on Thursday, October 18th. Finally, Morgan Stanley cut their target price on Analog Devices from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $103.70.

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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.

Further Reading: What is a stock split?

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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