Sadoff Investment Management LLC lowered its position in Analog Devices Inc. (NASDAQ:ADI) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,832 shares of the company’s stock after selling 1,278 shares during the period. Analog Devices accounts for approximately 2.0% of Sadoff Investment Management LLC’s holdings, making the stock its 26th largest position. Sadoff Investment Management LLC owned about 0.09% of Analog Devices worth $18,422,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADI. Evercore Wealth Management LLC raised its stake in shares of Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock worth $100,000 after buying an additional 123 shares during the period. NN Investment Partners Holdings N.V. raised its stake in shares of Analog Devices by 16.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,079 shares of the company’s stock worth $118,000 after buying an additional 300 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock worth $131,000 after buying an additional 384 shares during the period. SevenBridge Financial Group LLC bought a new position in shares of Analog Devices during the second quarter worth about $146,000. Finally, Signaturefd LLC increased its position in shares of Analog Devices by 347.0% in the second quarter. Signaturefd LLC now owns 2,977 shares of the company’s stock worth $169,000 after buying an additional 2,311 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

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

Analog Devices Inc. (NASDAQ:ADI) traded up 0.38% during midday trading on Friday, hitting $68.47. The stock had a trading volume of 1,580,079 shares. The stock has a 50-day moving average price of $63.99 and a 200 day moving average price of $60.84. The firm has a market cap of $21.05 billion, a P/E ratio of 32.34 and a beta of 1.18. Analog Devices Inc. has a 12-month low of $47.24 and a 12-month high of $68.58.

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

ADI has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $73.00 price target on shares of Analog Devices in a report on Wednesday, July 27th. Evercore ISI upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, July 27th. Citigroup Inc. downgraded Analog Devices from a “buy” rating to a “neutral” rating and lifted their price target for the company from $60.00 to $68.00 in a report on Wednesday, July 27th. They noted that the move was a valuation call. Morgan Stanley upgraded Analog Devices from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $56.00 to $78.00 in a report on Wednesday, July 27th. Finally, Royal Bank Of Canada lifted their price target on Analog Devices from $63.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $70.83.

In other news, Director John C. Hodgson sold 7,500 shares of Analog Devices stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total transaction of $483,150.00. Following the completion of the sale, the director now directly owns 18,485 shares in the company, valued at approximately $1,190,803.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Rick D. Hess sold 6,000 shares of Analog Devices stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $62.63, for a total transaction of $375,780.00. Following the sale, the senior vice president now owns 30,495 shares of the company’s stock, valued at $1,909,901.85. The disclosure for this sale can be found here. 0.90% of the stock is currently 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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