Andra AP fonden cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 49.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,700 shares of the semiconductor company’s stock after selling 15,300 shares during the period. Andra AP fonden’s holdings in Analog Devices were worth $1,353,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new position in shares of Analog Devices during the 1st quarter worth about $391,000. Gateway Investment Advisers LLC lifted its holdings in shares of Analog Devices by 0.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 401,641 shares of the semiconductor company’s stock worth $31,248,000 after acquiring an additional 1,076 shares during the period. Bank of The West bought a new position in shares of Analog Devices during the 2nd quarter worth about $1,337,000. Private Capital Advisors Inc. bought a new position in shares of Analog Devices during the 2nd quarter worth about $389,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Analog Devices by 8.3% during the 2nd quarter. Trust Co. of Vermont now owns 35,491 shares of the semiconductor company’s stock worth $2,762,000 after acquiring an additional 2,707 shares during the period. 86.42% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on ADI. BidaskClub cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Citigroup Inc. reiterated a “neutral” rating and set a $88.00 target price (down previously from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $92.00 target price on shares of Analog Devices in a research report on Friday, August 4th. Robert W. Baird reiterated an “outperform” rating and set a $100.00 target price (up previously 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 increased their target price for the stock from $72.50 to $80.00 in a research report on Thursday, August 31st. Twelve analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $93.65.

Shares of Analog Devices, Inc. (NASDAQ ADI) opened at $90.03 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.99 and a quick ratio of 1.52. The firm has a market cap of $32,939.35, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.74 and a beta of 1.32. Analog Devices, Inc. has a 1 year low of $65.33 and a 1 year high of $92.96.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share 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 analysts’ expectations 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 quarter last year, the company posted $0.82 EPS. equities research analysts forecast that Analog Devices, Inc. will post 4.6 earnings per share for the current fiscal year.

In other news, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the sale, the director now owns 234,481 shares in the company, valued at approximately $19,579,163.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the sale, the director now owns 20,185 shares of the company’s stock, valued at approximately $1,715,725. The disclosure for this sale can be found here. Insiders sold a total of 135,994 shares of company stock valued at $11,604,048 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://www.thecerbatgem.com/2017/11/14/andra-ap-fonden-trims-holdings-in-analog-devices-inc-adi.html.

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.

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

Receive News & Stock Ratings for Analog Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices Inc. and related stocks with our FREE daily email newsletter.