Scout Investments Inc. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,404 shares of the semiconductor company’s stock after selling 3,717 shares during the period. Scout Investments Inc.’s holdings in Analog Devices were worth $5,123,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of ADI. Massachusetts Financial Services Co. MA grew its position in shares of Analog Devices by 23.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,929,042 shares of the semiconductor company’s stock valued at $1,623,835,000 after purchasing an additional 3,199,255 shares in the last quarter. Morgan Stanley grew its position in shares of Analog Devices by 19.9% in the second quarter. Morgan Stanley now owns 7,076,283 shares of the semiconductor company’s stock valued at $678,754,000 after purchasing an additional 1,172,933 shares in the last quarter. Millennium Management LLC grew its position in shares of Analog Devices by 69.0% in the second quarter. Millennium Management LLC now owns 1,783,441 shares of the semiconductor company’s stock valued at $171,068,000 after purchasing an additional 728,032 shares in the last quarter. FMR LLC grew its position in shares of Analog Devices by 3.9% in the second quarter. FMR LLC now owns 9,175,704 shares of the semiconductor company’s stock valued at $880,133,000 after purchasing an additional 348,581 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Analog Devices in the second quarter valued at approximately $33,143,000. Institutional investors own 88.20% of the company’s stock.
A number of equities research analysts have recently issued reports on ADI shares. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a research report on Tuesday, July 17th. B. Riley lowered their price objective on Analog Devices from $120.00 to $117.00 and set a “buy” rating for the company in a research report on Thursday, August 23rd. Stifel Nicolaus increased their price objective on Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. BMO Capital Markets reiterated a “buy” rating and issued a $107.00 price objective on shares of Analog Devices in a research report on Monday, August 20th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $118.00 price objective on shares of Analog Devices in a research report on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $103.70.
NASDAQ:ADI traded down $2.34 during trading hours on Friday, reaching $87.59. 3,043,163 shares of the stock were exchanged, compared to its average volume of 3,817,977. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60. Analog Devices, Inc. has a twelve month low of $76.62 and a twelve month high of $103.59. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.23.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect that Analog Devices, Inc. will post 5.93 EPS for the current fiscal year.
Analog Devices announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $243,000.00. Following the sale, the senior vice president now directly owns 24,517 shares in the company, valued at $2,206,530. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph Hassett sold 12,000 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $100.40, for a total value of $1,204,800.00. Following the completion of the sale, the senior vice president now owns 26,711 shares in the company, valued at $2,681,784.40. The disclosure for this sale can be found here. Insiders have sold 88,750 shares of company stock worth $8,561,658 over the last 90 days. 1.10% of the stock is owned by insiders.
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Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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