Waddell & Reed Financial Inc. raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,287,305 shares of the semiconductor company’s stock after buying an additional 290,738 shares during the period. Waddell & Reed Financial Inc. owned approximately 1.06% of Analog Devices worth $269,394,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ADI. Lazard Asset Management LLC bought a new position in Analog Devices during the first quarter valued at approximately $100,000. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co bought a new position in Analog Devices during the first quarter valued at approximately $114,000. Guardian Life Insurance Co. of America increased its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the period. Finally, Financial Architects Inc increased its position in Analog Devices by 291.6% in the first quarter. Financial Architects Inc now owns 1,547 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 1,152 shares during the period. Institutional investors and hedge funds own 87.61% of the company’s stock.

Shares of Analog Devices, Inc. (ADI) traded down 1.12% during trading on Thursday, reaching $77.94. 2,162,931 shares of the company traded hands. The firm’s 50 day moving average price is $79.61 and its 200-day moving average price is $79.52. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49. The company has a market capitalization of $28.60 billion, a price-to-earnings ratio of 29.63 and a beta of 1.30.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.18. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. Analog Devices’s revenue was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. Equities analysts anticipate that Analog Devices, Inc. will post $4.37 EPS for the current fiscal year.

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Several research firms have commented on ADI. UBS AG reissued a “neutral” rating and set a $94.00 price objective (up previously from $83.00) on shares of Analog Devices in a report on Saturday, June 3rd. B. Riley reaffirmed a “buy” rating and issued a $103.00 price target on shares of Analog Devices in a report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $97.00 price target (up previously from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Jefferies Group LLC reaffirmed a “buy” rating on shares of Analog Devices in a report on Monday, July 10th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $91.00 price target (up previously from $84.00) on shares of Analog Devices in a report on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Analog Devices has an average rating of “Buy” and an average price target of $89.92.

In related news, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction on Friday, July 21st. The shares were sold at an average price of $80.07, for a total value of $360,715.35. Following the completion of the sale, the senior vice president now owns 13,531 shares in the company, valued at $1,083,427.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 47,500 shares of Analog Devices stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the completion of the sale, the chief executive officer now owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,086 shares of company stock worth $5,202,514. Corporate 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.

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

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