Nippon Life Insurance Co. decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 16.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,527 shares of the semiconductor company’s stock after selling 4,532 shares during the period. Nippon Life Insurance Co.’s holdings in Analog Devices were worth $1,753,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of ADI. DnB Asset Management AS raised its position in Analog Devices by 40.5% in the first quarter. DnB Asset Management AS now owns 41,347 shares of the semiconductor company’s stock worth $3,388,000 after buying an additional 11,926 shares during the last quarter. Oakbrook Investments LLC raised its position in Analog Devices by 6.8% in the first quarter. Oakbrook Investments LLC now owns 13,930 shares of the semiconductor company’s stock worth $1,142,000 after buying an additional 881 shares during the last quarter. Hermes Investment Management Ltd. raised its position in shares of Analog Devices by 2.0% in the first quarter. Hermes Investment Management Ltd. now owns 321,783 shares of the semiconductor company’s stock worth $26,370,000 after buying an additional 6,311 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Analog Devices by 17.0% in the first quarter. Retirement Systems of Alabama now owns 175,926 shares of the semiconductor company’s stock worth $14,417,000 after buying an additional 25,590 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank purchased a new position in shares of Analog Devices during the first quarter worth approximately $1,254,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Analog Devices, Inc. (ADI) opened at 77.74 on Friday. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49. The firm has a market cap of $28.53 billion, a PE ratio of 29.77 and a beta of 1.30. The stock has a 50 day moving average price of $79.05 and a 200 day moving average price of $79.82.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping 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 firm 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 company posted $0.64 earnings per share. The company’s revenue was up 41.2% compared to the same quarter last year. Equities analysts expect that Analog Devices, Inc. will post $4.37 earnings per share for the current year.
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A number of brokerages have commented on ADI. Stifel Nicolaus reaffirmed a “buy” rating and issued a $97.00 price objective (up from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Instinet lowered Analog Devices from a “neutral” rating to a “reduce” rating and decreased their price objective for the company from $82.00 to $72.00 in a report on Friday, June 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $96.00 price objective (up from $93.00) on shares of Analog Devices in a report on Thursday, June 1st. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, B. Riley reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a report on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $89.92.
In other news, SVP Peter Real sold 4,505 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $80.07, for a total value of $360,715.35. Following the completion of the sale, the senior vice president now owns 13,531 shares of the company’s stock, valued at approximately $1,083,427.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 47,500 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the completion of the sale, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The disclosure for this sale can be found here. In the last three months, insiders sold 61,086 shares of company stock valued at $5,202,514. 1.10% of the stock is currently owned by corporate 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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