Morse Asset Management Inc purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent filing with the SEC. The fund purchased 30,370 shares of the semiconductor company’s stock, valued at approximately $2,363,000.

Several other large investors have also recently made changes to their positions in the company. Financial & Investment Management Group Ltd. purchased a new stake in shares of Analog Devices during the first quarter worth about $216,000. Atria Investments LLC purchased a new stake in shares of Analog Devices during the first quarter worth about $393,000. Prospera Financial Services Inc increased its stake in shares of Analog Devices by 14.6% in the first quarter. Prospera Financial Services Inc now owns 20,943 shares of the semiconductor company’s stock worth $1,713,000 after buying an additional 2,663 shares during the last quarter. Salem Capital Management Inc. increased its stake in shares of Analog Devices by 5.5% in the first quarter. Salem Capital Management Inc. now owns 5,771 shares of the semiconductor company’s stock worth $473,000 after buying an additional 301 shares during the last quarter. Finally, Hall Laurie J Trustee increased its stake in shares of Analog Devices by 2.1% in the first quarter. Hall Laurie J Trustee now owns 16,161 shares of the semiconductor company’s stock worth $1,294,000 after buying an additional 336 shares during the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Analog Devices, Inc. (NASDAQ ADI) traded up 0.23% during mid-day trading on Friday, reaching $77.74. The company had a trading volume of 1,884,655 shares. The firm has a 50-day moving average price of $79.05 and a 200-day moving average price of $79.82. Analog Devices, Inc. has a 1-year low of $59.01 and a 1-year high of $90.49. The stock has a market capitalization of $28.53 billion, a price-to-earnings ratio of 29.77 and a beta of 1.30.

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

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A number of brokerages recently weighed in on ADI. Royal Bank Of Canada raised their target price on shares of Analog Devices from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, June 1st. Argus raised their target price on shares of Analog Devices from $86.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, June 1st. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 target price (up from $93.00) on shares of Analog Devices in a research note on Wednesday, May 31st. B. Riley reaffirmed a “buy” rating and issued a $103.00 target price on shares of Analog Devices in a research note on Tuesday, May 30th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research note on Friday, May 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $89.92.

In other Analog Devices news, CEO Vincent Roche sold 47,500 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total value of $4,108,750.00. Following the completion of the sale, the chief executive officer now directly owns 61,484 shares in the company, valued at $5,318,366. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $81.54, for a total value of $244,620.00. Following the completion of the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,663,742.16. The disclosure for this sale can be found here. Insiders have sold a total of 61,086 shares of company stock valued at $5,202,514 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

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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