Marathon Asset Management LLP lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 20.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 630,727 shares of the semiconductor company’s stock after selling 160,990 shares during the period. Marathon Asset Management LLP owned 0.17% of Analog Devices worth $49,071,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Blue Granite Capital LLC acquired a new position in Analog Devices during the second quarter valued at about $774,000. Advisors Capital Management LLC raised its position in Analog Devices by 5.2% in the second quarter. Advisors Capital Management LLC now owns 5,865 shares of the semiconductor company’s stock valued at $456,000 after buying an additional 289 shares during the last quarter. BerganKDV Wealth Management LLC acquired a new position in Analog Devices during the second quarter valued at about $661,000. Ardevora Asset Management LLP acquired a new position in Analog Devices during the second quarter valued at about $24,561,000. Finally, Peoples Financial Services CORP. raised its position in Analog Devices by 36.7% in the second quarter. Peoples Financial Services CORP. now owns 9,664 shares of the semiconductor company’s stock valued at $751,000 after buying an additional 2,596 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Analog Devices, Inc. (ADI) traded down 0.39% during mid-day trading on Friday, reaching $79.24. 1,677,677 shares of the company were exchanged. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of 30.35 and a beta of 1.30. Analog Devices, Inc. has a 1-year low of $59.01 and a 1-year high of $90.49. The company has a 50 day moving average of $79.62 and a 200-day moving average of $79.32.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.10 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Analog Devices’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities research analysts forecast that Analog Devices, Inc. will post $4.37 EPS for the current year.
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A number of equities analysts recently weighed in on the stock. UBS AG restated a “neutral” rating and issued a $94.00 price objective (up from $83.00) on shares of Analog Devices in a report on Saturday, June 3rd. B. Riley restated a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a report on Tuesday, June 27th. Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a report on Monday, July 10th. BMO Capital Markets restated a “buy” rating and issued a $96.00 price objective on shares of Analog Devices in a report on Friday, March 31st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $97.00 target price (up from $95.00) on shares of Analog Devices in a research note on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $89.92.
In related news, CEO Vincent Roche sold 47,500 shares of the company’s 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 sale, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Evans bought 14,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were acquired at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the purchase, the director now owns 67,540 shares in the company, valued at $5,287,031.20. The disclosure for this purchase can be found here. Insiders have sold 61,086 shares of company stock worth $5,202,514 over the last ninety days. 1.10% of the stock is owned by insiders.
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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