Traders Buy Analog Devices (ADI) on Weakness

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Traders purchased shares of Analog Devices, Inc. (NASDAQ:ADI) on weakness during trading hours on Wednesday. $118.50 million flowed into the stock on the tick-up and $68.78 million flowed out of the stock on the tick-down, for a money net flow of $49.72 million into the stock. Of all companies tracked, Analog Devices had the 23rd highest net in-flow for the day. Analog Devices traded down ($3.13) for the day and closed at $110.55

Several equities research analysts have recently commented on ADI shares. Zacks Investment Research upgraded Analog Devices from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Bank of America raised Analog Devices from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $96.00 to $125.00 in a report on Monday, February 11th. ValuEngine raised Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, January 25th. Piper Jaffray Companies reaffirmed an “outperform” rating and set a $112.00 price objective on shares of Analog Devices in a report on Friday, February 1st. Finally, Evercore ISI dropped their price objective on Analog Devices from $105.00 to $96.00 in a report on Monday, January 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Analog Devices has an average rating of “Hold” and a consensus target price of $105.67.

The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.54. The firm has a market cap of $40.72 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.05. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. Analog Devices’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.42 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 5.45 earnings per share for the current fiscal year.

In related news, CAO Eileen Wynne sold 2,736 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $105.28, for a total transaction of $288,046.08. Following the sale, the chief accounting officer now owns 4,888 shares of the company’s stock, valued at $514,608.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.50, for a total value of $1,165,000.00. The disclosure for this sale can be found here. Insiders sold 112,120 shares of company stock worth $12,114,745 in the last three months. 0.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ADI. First American Bank lifted its position in Analog Devices by 1.7% during the first quarter. First American Bank now owns 9,628 shares of the semiconductor company’s stock worth $1,014,000 after buying an additional 161 shares during the period. 10 15 Associates Inc. lifted its position in Analog Devices by 0.7% during the fourth quarter. 10 15 Associates Inc. now owns 30,283 shares of the semiconductor company’s stock worth $2,599,000 after buying an additional 220 shares during the period. Riverbridge Partners LLC lifted its position in Analog Devices by 7.6% during the first quarter. Riverbridge Partners LLC now owns 501,781 shares of the semiconductor company’s stock worth $52,822,000 after buying an additional 35,586 shares during the period. Virtu Financial LLC lifted its position in Analog Devices by 1,429.5% during the first quarter. Virtu Financial LLC now owns 41,679 shares of the semiconductor company’s stock worth $4,387,000 after buying an additional 38,954 shares during the period. Finally, NuWave Investment Management LLC lifted its position in Analog Devices by 5,200.0% during the first quarter. NuWave Investment Management LLC now owns 5,724 shares of the semiconductor company’s stock worth $603,000 after buying an additional 5,616 shares during the period. 91.48% of the stock is currently owned by institutional investors and hedge funds.

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Analog Devices Company Profile (NASDAQ:ADI)

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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