Analog Devices, Inc. (NASDAQ:ADI) Holdings Lowered by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,902 shares of the semiconductor company’s stock after selling 1,837 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Analog Devices were worth $2,894,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lenox Wealth Advisors LLC purchased a new stake in shares of Analog Devices during the second quarter valued at $28,000. Assetmark Inc. lifted its holdings in shares of Analog Devices by 120.6% during the second quarter. Assetmark Inc. now owns 289 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 158 shares during the last quarter. Tortoise Investment Management LLC purchased a new stake in shares of Analog Devices during the second quarter valued at $34,000. Webster Bank N. A. lifted its holdings in shares of Analog Devices by 150.0% during the third quarter. Webster Bank N. A. now owns 340 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Mcmillion Capital Management Inc. purchased a new stake in shares of Analog Devices during the second quarter valued at $44,000. 87.51% of the stock is owned by institutional investors and hedge funds.

NASDAQ:ADI traded up $0.07 during trading hours on Thursday, hitting $105.64. 1,536,549 shares of the company’s stock traded hands, compared to its average volume of 1,951,016. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.35. Analog Devices, Inc. has a twelve month low of $76.62 and a twelve month high of $124.79. The stock’s fifty day moving average price is $111.99 and its two-hundred day moving average price is $110.70. The firm has a market cap of $40.96 billion, a P/E ratio of 17.78, a P/E/G ratio of 2.03 and a beta of 1.43.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.04. Analog Devices had a return on equity of 17.87% and a net margin of 24.71%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $1.53 EPS. The business’s revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts predict that Analog Devices, Inc. will post 5.2 earnings per share for the current year.

Several research analysts recently weighed in on ADI shares. Loop Capital upped their price target on Analog Devices to $125.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Piper Jaffray Companies upped their price target on Analog Devices from $118.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Barclays raised Analog Devices from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $105.00 to $130.00 in a research report on Thursday, September 12th. Morgan Stanley upped their price target on Analog Devices from $97.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, August 22nd. Finally, Daiwa Capital Markets started coverage on Analog Devices in a research report on Tuesday. They set an “outperform” rating and a $121.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $114.00.

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $92.34, for a total value of $923,400.00. Following the transaction, the chief executive officer now directly owns 351,335 shares of the company’s stock, valued at approximately $32,442,273.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 1,463 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $109.75, for a total value of $160,564.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,362 shares of company stock worth $5,875,493. Insiders own 0.50% of the company’s stock.

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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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