Nomura Asset Management Co. Ltd. decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 43.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,260 shares of the semiconductor company’s stock after selling 76,159 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Analog Devices were worth $9,521,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ADI. JPMorgan Chase & Co. grew its stake in shares of Analog Devices by 17.7% in the first quarter. JPMorgan Chase & Co. now owns 22,229,063 shares of the semiconductor company’s stock worth $2,025,734,000 after acquiring an additional 3,344,969 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Analog Devices by 23.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,929,042 shares of the semiconductor company’s stock worth $1,623,835,000 after acquiring an additional 3,199,255 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Analog Devices in the first quarter worth $108,490,000. FIL Ltd grew its stake in shares of Analog Devices by 9,511.9% in the first quarter. FIL Ltd now owns 1,173,424 shares of the semiconductor company’s stock worth $106,934,000 after acquiring an additional 1,161,216 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Analog Devices by 2,304.5% in the first quarter. Millennium Management LLC now owns 1,055,409 shares of the semiconductor company’s stock worth $96,179,000 after acquiring an additional 1,011,516 shares during the last quarter. Institutional investors and hedge funds own 88.33% of the company’s stock.

Several equities research analysts have recently issued reports on ADI shares. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. B. Riley lowered their price objective on shares of Analog Devices from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 31st. Stifel Nicolaus raised their price objective on shares of Analog Devices from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, May 31st. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Tuesday, May 22nd. Finally, Loop Capital began coverage on shares of Analog Devices in a research note on Thursday, June 21st. They set a “buy” rating and a $117.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Analog Devices currently has an average rating of “Buy” and an average price target of $104.63.

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, June 1st. The stock was sold at an average price of $96.89, for a total transaction of $968,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter Real sold 4,595 shares of Analog Devices stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $93.07, for a total value of $427,656.65. Following the transaction, the senior vice president now directly owns 18,195 shares of the company’s stock, valued at $1,693,408.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,050 shares of company stock valued at $7,712,311. Company insiders own 1.10% of the company’s stock.

ADI opened at $94.94 on Friday. Analog Devices, Inc. has a fifty-two week low of $76.41 and a fifty-two week high of $103.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.53. The firm has a market cap of $36.53 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.08. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Analog Devices had a return on equity of 20.34% and a net margin of 17.72%. The business’s revenue was up 31.8% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. sell-side analysts anticipate that Analog Devices, Inc. will post 5.8 EPS for the current fiscal year.

About Analog Devices

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

Further Reading: Price to Earnings Ratio (PE) Basics

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

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