Wendell David Associates Inc. Maintains Position in Analog Devices, Inc. (ADI)
Wendell David Associates Inc. continued to hold its stake in Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,633 shares of the semiconductor company’s stock at the end of the second quarter. Wendell David Associates Inc.’s holdings in Analog Devices were worth $205,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its stake in shares of Analog Devices by 8.8% in the fourth quarter. Quadrature Capital Ltd now owns 40,730 shares of the semiconductor company’s stock valued at $2,958,000 after buying an additional 3,278 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of Analog Devices during the fourth quarter valued at $7,926,000. Kentucky Retirement Systems acquired a new stake in shares of Analog Devices during the fourth quarter valued at $1,624,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Analog Devices during the fourth quarter valued at $725,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter valued at $4,324,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices, Inc. (ADI) opened at 79.55 on Friday. The firm’s 50-day moving average is $79.87 and its 200-day moving average is $79.05. The stock has a market cap of $29.20 billion, a P/E ratio of 30.47 and a beta of 1.30. Analog Devices, Inc. has a 12 month low of $59.01 and a 12 month high of $90.49.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
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ADI has been the topic of several recent research reports. BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 target price on shares of Analog Devices in a research note on Friday, March 31st. Stephens raised shares of 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 set a $93.00 target price on shares of Analog Devices in a research note on Tuesday, May 9th. Zacks Investment Research downgraded shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Analog Devices in a research note on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices currently has an average rating of “Buy” and an average price target of $88.86.
In related news, SVP Peter Real sold 3,000 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $80.00, for a total value of $240,000.00. Following the completion of the sale, the senior vice president now owns 12,026 shares of the company’s stock, valued at $962,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Evans acquired 14,000 shares of Analog Devices stock in a transaction that occurred on Friday, July 7th. The stock was bought at an average cost of $78.28 per share, with a total value of $1,095,920.00. Following the acquisition, the director now directly owns 67,540 shares of the company’s stock, valued at $5,287,031.20. The disclosure for this purchase can be found here. In the last three months, insiders have sold 56,581 shares of company stock valued at $4,840,748. Corporate insiders own 1.10% of the company’s stock.
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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