Washington Trust Bank Buys 1,683 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Washington Trust Bank increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 214.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,468 shares of the semiconductor company’s stock after buying an additional 1,683 shares during the period. Washington Trust Bank’s holdings in Analog Devices were worth $192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. YorkBridge Wealth Partners LLC raised its stake in shares of Analog Devices by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,753 shares of the semiconductor company’s stock worth $283,000 after buying an additional 11 shares during the period. King Luther Capital Management Corp raised its stake in shares of Analog Devices by 0.9% in the first quarter. King Luther Capital Management Corp now owns 3,722 shares of the semiconductor company’s stock worth $305,000 after buying an additional 32 shares during the period. CENTRAL TRUST Co raised its stake in shares of Analog Devices by 1.4% in the second quarter. CENTRAL TRUST Co now owns 2,365 shares of the semiconductor company’s stock worth $184,000 after buying an additional 32 shares during the period. Osborn Williams & Donohoe LLC raised its stake in shares of Analog Devices by 1.2% in the second quarter. Osborn Williams & Donohoe LLC now owns 2,834 shares of the semiconductor company’s stock worth $220,000 after buying an additional 34 shares during the period. Finally, Peapack Gladstone Financial Corp raised its stake in shares of Analog Devices by 1.5% in the first quarter. Peapack Gladstone Financial Corp now owns 3,095 shares of the semiconductor company’s stock worth $254,000 after buying an additional 45 shares during the period. 87.76% of the stock is owned by institutional investors.

Analog Devices, Inc. (ADI) opened at 76.83 on Friday. The company’s 50-day moving average is $79.20 and its 200-day moving average is $79.65. Analog Devices, Inc. has a 12 month low of $59.01 and a 12 month high of $90.49. The stock has a market capitalization of $28.20 billion, a P/E ratio of 29.43 and a beta of 1.30.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue was up 41.2% on a year-over-year basis. Equities analysts anticipate that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

A number of brokerages have weighed in on ADI. B. Riley reiterated a “buy” rating and issued a $103.00 price target on shares of Analog Devices in a report on Tuesday, May 30th. UBS AG reissued a “neutral” rating and issued a $94.00 target price (up previously from $83.00) on shares of Analog Devices in a research note on Saturday, June 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Analog Devices in a research note on Monday, May 22nd. Stephens raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Finally, BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $89.92.

In other Analog Devices news, CEO Vincent Roche sold 47,500 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the transaction, the chief executive officer now directly owns 61,484 shares in the company, valued at approximately $5,318,366. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Peter Real sold 4,505 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $80.07, for a total value of $360,715.35. Following the transaction, the senior vice president now directly owns 13,531 shares in the company, valued at $1,083,427.17. The disclosure for this sale can be found here. Insiders have sold 61,086 shares of company stock valued at $5,202,514 in the last three months. Insiders own 1.10% of the company’s stock.

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.