State of Wisconsin Investment Board Boosts Position in Analog Devices, Inc. (ADI)
State of Wisconsin Investment Board boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 460,775 shares of the semiconductor company’s stock after buying an additional 27,826 shares during the period. State of Wisconsin Investment Board owned approximately 0.13% of Analog Devices worth $39,705,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its stake in Analog Devices by 51.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in Analog Devices in the 2nd quarter valued at approximately $119,000. WFG Advisors LP grew its position in shares of Analog Devices by 26.4% during the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 330 shares in the last quarter. Rockefeller Financial Services Inc. grew its position in shares of Analog Devices by 7,478.3% during the 2nd quarter. Rockefeller Financial Services Inc. now owns 1,743 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Crow Point Partners LLC purchased a new position in shares of Analog Devices during the 3rd quarter valued at $140,000. Institutional investors and hedge funds own 86.65% of the company’s stock.
A number of research analysts have recently commented on ADI shares. BidaskClub lowered shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Citigroup Inc. restated a “neutral” rating and set a $88.00 price target (down from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. Royal Bank Of Canada restated a “buy” rating and set a $92.00 price target on shares of Analog Devices in a research report on Friday, August 4th. Robert W. Baird restated an “outperform” rating and set a $100.00 price target (up from $98.00) on shares of Analog Devices in a research report on Thursday, August 31st. Finally, Instinet upgraded shares of Analog Devices from a “reduce” rating to a “neutral” rating and boosted their price target for the company from $72.50 to $80.00 in a research report on Thursday, August 31st. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $93.65.
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Analog Devices, Inc. (ADI) opened at $91.73 on Wednesday. The company has a market cap of $33,928.38, a PE ratio of 21.56, a PEG ratio of 1.79 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.52 and a current ratio of 1.99. Analog Devices, Inc. has a one year low of $62.50 and a one year high of $92.96.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company’s quarterly revenue was up 64.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. sell-side analysts predict that Analog Devices, Inc. will post 4.6 EPS for the current year.
In related news, Director James Champy sold 10,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the completion of the transaction, the director now directly owns 20,185 shares of the company’s stock, valued at $1,715,725. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.81, for a total transaction of $233,430.00. Following the completion of the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,587,635.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,994 shares of company stock valued at $11,604,048. 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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