Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,359 shares of the semiconductor company’s stock after selling 14,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Analog Devices were worth $11,215,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Lenox Wealth Advisors LLC acquired a new position in shares of Analog Devices in the second quarter valued at approximately $28,000. Berman Capital Advisors LLC raised its stake in Analog Devices by 43.8% in the 1st quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 91 shares during the period. TCI Wealth Advisors Inc. raised its stake in Analog Devices by 820.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 322 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 287 shares during the period. Liberty Wealth Management LLC bought a new position in Analog Devices during the 4th quarter worth $33,000. Finally, Massmutual Trust Co. FSB ADV bought a new position in Analog Devices during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 89.49% of the company’s stock.
In other Analog Devices news, SVP Steve Pietkiewicz sold 7,219 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $113.03, for a total transaction of $815,963.57. Following the transaction, the senior vice president now owns 29,870 shares of the company’s stock, valued at approximately $3,376,206.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Yusuf Jamal sold 31,867 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the transaction, the senior vice president now owns 2,124 shares of the company’s stock, valued at approximately $208,555.56. The disclosure for this sale can be found here. Insiders sold 94,006 shares of company stock valued at $9,987,148 over the last 90 days. Insiders own 0.50% of the company’s stock.
Shares of NASDAQ:ADI traded up $0.49 during trading hours on Friday, hitting $122.67. 45,381 shares of the company’s stock traded hands, compared to its average volume of 2,023,150. Analog Devices, Inc. has a 1 year low of $76.62 and a 1 year high of $124.79. The firm has a fifty day simple moving average of $111.72. The firm has a market cap of $46.09 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.92 and a beta of 1.43. The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.48.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts predict that Analog Devices, Inc. will post 5.24 EPS for the current year.
Several equities analysts have commented on the company. Morgan Stanley set a $123.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 23rd. Royal Bank of Canada decreased their price target on Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. ValuEngine cut Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. SunTrust Banks reduced their target price on Analog Devices to $122.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Piper Jaffray Companies cut Acacia Communications from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $109.94.
About Analog Devices
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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