Fayerweather Charles Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)
Fayerweather Charles raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 40.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,637 shares of the semiconductor company’s stock after buying an additional 2,790 shares during the period. Fayerweather Charles’ holdings in Analog Devices were worth $789,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares during the last quarter. BlackRock Inc. boosted its position in Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock worth $1,888,562,000 after buying an additional 22,366,040 shares during the period. Wellington Management Group LLP boosted its position in Analog Devices by 14.4% in the first quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock worth $1,514,372,000 after buying an additional 2,319,193 shares during the period. State Street Corp boosted its position in Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock worth $1,225,852,000 after buying an additional 2,493,568 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Analog Devices by 8.4% in the first quarter. Wells Fargo & Company MN now owns 7,957,053 shares of the semiconductor company’s stock worth $652,081,000 after buying an additional 614,150 shares during the period. Hedge funds and other institutional investors own 87.61% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ ADI) traded down 1.12% during mid-day trading on Thursday, hitting $77.94. The stock had a trading volume of 2,162,931 shares. The firm has a 50 day moving average of $79.61 and a 200 day moving average of $79.52. The stock has a market cap of $28.60 billion, a price-to-earnings ratio of 29.63 and a beta of 1.30. Analog Devices, Inc. has a one year low of $59.01 and a one year high of $90.49.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 41.2% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $97.00 price target (up from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Instinet lowered Analog Devices from a “neutral” rating to a “reduce” rating and dropped their target price for the company from $82.00 to $72.00 in a research note on Friday, June 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $96.00 target price (up from $93.00) on shares of Analog Devices in a research note on Thursday, June 1st. Deutsche Bank AG reiterated a “hold” rating and issued a $84.00 target price (up from $80.00) on shares of Analog Devices in a research note on Thursday, June 1st. Finally, Stephens upgraded Analog Devices from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $89.92.
In related news, CEO Vincent Roche sold 47,500 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the completion of the transaction, the chief executive officer now directly owns 61,484 shares in the company, valued at approximately $5,318,366. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Evans purchased 14,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was acquired at an average price of $78.28 per share, with a total value of $1,095,920.00. Following the completion of the purchase, the director now owns 67,540 shares in the company, valued at $5,287,031.20. The disclosure for this purchase can be found here. Insiders sold a total of 61,086 shares of company stock valued at $5,202,514 over the last 90 days. Company insiders own 1.10% of the company’s stock.
Analog Devices Company Profile
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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