Deltec Asset Management LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 12,850 shares of the semiconductor company’s stock, valued at approximately $1,000,000.
Several other institutional investors have also recently modified their holdings of ADI. BlackRock Inc. increased 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 worth $1,888,562,000 after buying an additional 22,366,040 shares during the last quarter. Vanguard Group Inc. increased its position 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 last quarter. First Eagle Investment Management LLC increased its position in Analog Devices by 84.6% in the first quarter. First Eagle Investment Management LLC now owns 6,520,656 shares of the semiconductor company’s stock worth $534,368,000 after buying an additional 2,987,637 shares during the last quarter. FMR LLC increased its position in Analog Devices by 52.2% in the first quarter. FMR LLC now owns 7,757,023 shares of the semiconductor company’s stock worth $635,689,000 after buying an additional 2,661,277 shares during the last quarter. Finally, State Street Corp increased 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 worth $1,225,852,000 after buying an additional 2,493,568 shares during the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.
Shares of Analog Devices, Inc. (ADI) opened at 79.55 on Friday. The stock has a 50 day moving average of $79.71 and a 200-day moving average of $79.27. The company has a market capitalization of $29.20 billion, a P/E ratio of 30.47 and a beta of 1.30. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue was up 41.2% on a year-over-year basis. Equities research analysts forecast that Analog Devices, Inc. will post $4.37 EPS for the current year.
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A number of research firms recently issued reports on ADI. Stifel Nicolaus reissued a “buy” rating and issued a $97.00 price target (up from $95.00) on shares of Analog Devices in a research note on Thursday, June 1st. Instinet downgraded shares of Analog Devices from a “neutral” rating to a “reduce” rating and decreased their price target for the stock from $82.00 to $72.00 in a research note on Friday, June 2nd. Morgan Stanley reissued an “overweight” rating and issued a $96.00 price target (up from $93.00) on shares of Analog Devices in a research note on Thursday, June 1st. Deutsche Bank AG reaffirmed a “hold” rating and set a $84.00 target price (up previously from $80.00) on shares of Analog Devices in a research note on Thursday, June 1st. Finally, Stephens raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $89.92.
In related news, CEO Vincent Roche sold 47,500 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the completion of the sale, the chief executive officer now owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $81.54, for a total transaction of $244,620.00. Following the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,663,742.16. The disclosure for this sale can be found here. Insiders sold a total of 61,086 shares of company stock worth $5,202,514 over the last quarter. Insiders own 1.10% of the company’s stock.
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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