Cornerstone Advisors Inc. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,780 shares of the semiconductor company’s stock after selling 206 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Analog Devices were worth $293,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. raised its stake in Analog Devices by 9,766.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 296 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 293 shares during the period. PRW Wealth Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $27,000. TCI Wealth Advisors Inc. raised its stake in Analog Devices by 820.0% during the first quarter. TCI Wealth Advisors Inc. now owns 322 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 287 shares during the period. Bruderman Asset Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $31,000. Finally, Liberty Wealth Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 91.48% of the company’s stock.
NASDAQ ADI opened at $110.55 on Thursday. Analog Devices, Inc. has a 52 week low of $76.62 and a 52 week high of $118.54. 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 stock has a market capitalization of $40.72 billion, a price-to-earnings ratio of 18.61, a PEG 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 EPS for the quarter, topping the consensus estimate of $1.28 by $0.05. Analog Devices had a net margin of 25.42% and a return on equity of 19.99%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. Analog Devices’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 5.45 earnings per share for the current year.
Several research firms recently weighed in on ADI. Zacks Investment Research upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. BidaskClub lowered shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of Analog Devices in a research note on Tuesday, April 30th. Robert W. Baird reiterated a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research note on Wednesday, February 20th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $118.00 price objective on shares of Analog Devices in a research note on Wednesday, February 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $105.67.
In other news, SVP Margaret K. Seif sold 10,000 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $105.60, for a total value of $1,056,000.00. Following the completion of the transaction, the senior vice president now directly owns 13,517 shares in the company, valued at $1,427,395.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Eileen Wynne sold 2,736 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $105.28, for a total transaction of $288,046.08. Following the completion of the transaction, the chief accounting officer now owns 4,888 shares of the company’s stock, valued at $514,608.64. The disclosure for this sale can be found here. Insiders sold 112,120 shares of company stock valued at $12,114,745 over the last quarter. Insiders own 0.50% of the company’s stock.
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Analog Devices Company Profile
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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