Hall Laurie J Trustee grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,510 shares of the semiconductor company’s stock after purchasing an additional 2,100 shares during the quarter. Analog Devices makes up approximately 1.0% of Hall Laurie J Trustee’s investment portfolio, making the stock its 29th largest position. Hall Laurie J Trustee’s holdings in Analog Devices were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in Analog Devices in the third quarter worth about $393,000. Ardevora Asset Management LLP lifted its stake in Analog Devices by 11.9% in the third quarter. Ardevora Asset Management LLP now owns 303,416 shares of the semiconductor company’s stock worth $28,054,000 after acquiring an additional 32,269 shares during the period. Arizona State Retirement System lifted its stake in Analog Devices by 1.1% in the third quarter. Arizona State Retirement System now owns 92,120 shares of the semiconductor company’s stock worth $8,517,000 after acquiring an additional 1,003 shares during the period. Round Table Services LLC lifted its stake in Analog Devices by 38.3% in the third quarter. Round Table Services LLC now owns 6,495 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 1,800 shares during the period. Finally, GWM Advisors LLC lifted its stake in Analog Devices by 21.2% in the third quarter. GWM Advisors LLC now owns 12,969 shares of the semiconductor company’s stock worth $1,199,000 after acquiring an additional 2,267 shares during the period. 88.10% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on ADI shares. Barclays reduced their target price on shares of Analog Devices from $105.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, October 23rd. BidaskClub downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Nomura started coverage on shares of Analog Devices in a report on Wednesday, July 18th. They issued a “neutral” rating and a $100.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a report on Tuesday, July 17th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. Analog Devices currently has a consensus rating of “Hold” and a consensus target price of $103.70.
Shares of ADI traded up $2.22 during mid-day trading on Tuesday, hitting $82.63. 541,414 shares of the company traded hands, compared to its average volume of 4,056,534. Analog Devices, Inc. has a 1-year low of $76.62 and a 1-year high of $103.59. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60. The company has a market cap of $29.37 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Analog Devices, Inc. will post 5.93 EPS for the current fiscal year.
Analog Devices announced that its Board of Directors has approved a share buyback plan on Tuesday, August 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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