Montag & Caldwell LLC Buys New Position in Analog Devices, Inc. (NASDAQ:ADI)

Montag & Caldwell LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 827,641 shares of the semiconductor company’s stock, valued at approximately $64,391,000. Analog Devices comprises 1.9% of Montag & Caldwell LLC’s investment portfolio, making the stock its 28th largest position. Montag & Caldwell LLC owned about 0.23% of Analog Devices at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in Analog Devices during the first quarter valued at approximately $100,000. Whittier Trust Co. of Nevada Inc. raised its position in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares during the last quarter. Jacobus Wealth Management Inc. acquired a new position in Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co acquired a new position in Analog Devices during the first quarter valued at approximately $114,000. Finally, Guardian Life Insurance Co. of America raised its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the last quarter. 87.76% of the stock is owned by institutional investors.

Analog Devices, Inc. (NASDAQ:ADI) opened at 78.04 on Friday. Analog Devices, Inc. has a 12 month low of $59.01 and a 12 month high of $90.49. The stock’s 50 day moving average is $79.11 and its 200-day moving average is $79.68. The stock has a market capitalization of $28.64 billion, a price-to-earnings ratio of 29.89 and a beta of 1.30.

Analog Devices (NASDAQ:ADI) last posted its quarterly 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. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The business’s revenue was up 41.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

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Several research analysts have recently commented on ADI shares. Stifel Nicolaus reissued a “buy” rating and issued a $97.00 price objective (up previously from $95.00) on shares of Analog Devices in a research note on Thursday, June 1st. Drexel Hamilton reissued a “buy” rating and issued a $105.00 price objective (up previously from $93.00) on shares of Analog Devices in a research note on Wednesday, May 31st. B. Riley reissued a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a research note on Tuesday, May 30th. Credit Suisse Group reissued a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Friday, May 26th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Monday, May 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company 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 stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Evans purchased 14,000 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The shares were purchased at an average cost of $78.28 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last three months, insiders have sold 61,086 shares of company stock worth $5,202,514. Corporate 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.

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

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