Huntington National Bank increased its position in shares of Analog Devices Inc. (NASDAQ:ADI) by 40.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 329,395 shares of the company’s stock after buying an additional 95,359 shares during the period. Huntington National Bank owned 0.11% of Analog Devices worth $18,657,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Fund Management S.A. bought a new position in Analog Devices during the second quarter worth $9,639,000. Candriam Luxembourg S.C.A. raised its position in Analog Devices by 119.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 623,417 shares of the company’s stock worth $35,312,000 after buying an additional 339,513 shares during the last quarter. Confluence Investment Management LLC raised its position in Analog Devices by 8.4% in the second quarter. Confluence Investment Management LLC now owns 165,264 shares of the company’s stock worth $9,361,000 after buying an additional 12,815 shares during the last quarter. PGGM Investments bought a new position in Analog Devices during the second quarter worth $29,028,000. Finally, HL Financial Services LLC raised its position in Analog Devices by 1.0% in the second quarter. HL Financial Services LLC now owns 11,786 shares of the company’s stock worth $667,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 85.71% of the company’s stock.

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

Shares of Analog Devices Inc. (NASDAQ:ADI) traded down 1.97% during midday trading on Tuesday, hitting $62.10. The stock had a trading volume of 3,177,856 shares. The firm has a market cap of $19.09 billion, a price-to-earnings ratio of 29.33 and a beta of 1.25. The firm’s 50 day moving average price is $62.90 and its 200 day moving average price is $59.83. Analog Devices Inc. has a 52-week low of $47.24 and a 52-week high of $66.91.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.07. Analog Devices had a return on equity of 19.40% and a net margin of 19.49%. The firm earned $870 million during the quarter, compared to analyst estimates of $847.43 million. During the same quarter in the previous year, the business earned $0.77 EPS. Analog Devices’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Analog Devices Inc. will post $2.92 earnings per share for the current year.

Several research analysts have recently weighed in on ADI shares. Stifel Nicolaus boosted their price target on Analog Devices from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Pacific Crest restated an “overweight” rating on shares of Analog Devices in a research note on Sunday, August 28th. KeyCorp restated a “buy” rating on shares of Analog Devices in a research note on Wednesday, July 6th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Analog Devices in a research note on Tuesday, June 14th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $70.64.

In related news, SVP Rick D. Hess sold 6,000 shares of Analog Devices stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $60.03, for a total value of $360,180.00. Following the sale, the senior vice president now directly owns 36,495 shares in the company, valued at approximately $2,190,794.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ray Stata sold 50,000 shares of Analog Devices stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $64.06, for a total value of $3,203,000.00. Following the completion of the sale, the director now owns 257,631 shares in the company, valued at $16,503,841.86. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analog Devices Company Profile

Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.

5 Day Chart for NASDAQ:ADI

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