LS Investment Advisors LLC Sells 71 Shares of Analog Devices, Inc. (NASDAQ:ADI)

LS Investment Advisors LLC reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,591 shares of the semiconductor company’s stock after selling 71 shares during the period. LS Investment Advisors LLC’s holdings in Analog Devices were worth $746,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares during the period. BlackRock Inc. boosted its position in Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock valued at $1,888,562,000 after buying an additional 22,366,040 shares during the last quarter. Wellington Management Group LLP boosted its position in Analog Devices by 14.4% in the first quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock valued at $1,514,372,000 after buying an additional 2,319,193 shares during the last quarter. State Street Corp boosted its position in Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock valued at $1,225,852,000 after buying an additional 2,493,568 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Analog Devices by 8.4% in the first quarter. Wells Fargo & Company MN now owns 7,957,053 shares of the semiconductor company’s stock valued at $652,081,000 after buying an additional 614,150 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of Analog Devices, Inc. (ADI) opened at 78.96 on Monday. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49. The firm has a 50-day moving average price of $79.87 and a 200 day moving average price of $79.05. The stock has a market cap of $28.98 billion, a PE ratio of 30.24 and a beta of 1.30.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. Equities research analysts expect that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

Several research firms have commented on ADI. UBS AG reissued a “neutral” rating and set a $94.00 target price (up previously from $83.00) on shares of Analog Devices in a research note on Saturday, June 3rd. B. Riley reissued a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research note on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. BMO Capital Markets reissued a “buy” rating and set a $96.00 target price on shares of Analog Devices in a research note on Friday, March 31st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $97.00 target price (up previously from $95.00) on shares of Analog Devices in a research note on Thursday, June 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $88.86.

In other Analog Devices news, Director Bruce R. Evans purchased 14,000 shares of Analog Devices stock in a transaction dated Friday, July 7th. The shares were acquired at an average cost of $78.28 per share, with a total value of $1,095,920.00. Following the completion of the transaction, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 47,500 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 61,484 shares in the company, valued at $5,318,366. The disclosure for this sale can be found here. Insiders sold 56,581 shares of company stock valued at $4,841,798 in the last quarter. 1.10% of the stock is owned by company insiders.

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.

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