Lathrop Investment Management Corp Has $17.94 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Lathrop Investment Management Corp cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.6% in the third quarter, HoldingsChannel reports. The firm owned 77,919 shares of the semiconductor company’s stock after selling 2,064 shares during the period. Analog Devices comprises about 3.3% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 8th largest holding. Lathrop Investment Management Corp’s holdings in Analog Devices were worth $17,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Axxcess Wealth Management LLC grew its stake in Analog Devices by 20.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 5,962 shares of the semiconductor company’s stock worth $1,179,000 after buying an additional 1,031 shares during the last quarter. Capital International Inc. CA raised its holdings in Analog Devices by 10.2% in the 1st quarter. Capital International Inc. CA now owns 7,638 shares of the semiconductor company’s stock worth $1,511,000 after purchasing an additional 708 shares during the period. Magnetar Financial LLC acquired a new position in Analog Devices in the 1st quarter worth about $3,573,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of Analog Devices by 1.0% during the first quarter. Mount Yale Investment Advisors LLC now owns 10,955 shares of the semiconductor company’s stock valued at $2,167,000 after acquiring an additional 111 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 1.1 %

ADI stock opened at $213.36 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market cap of $105.93 billion, a PE ratio of 64.07, a PEG ratio of 2.97 and a beta of 1.08. Analog Devices, Inc. has a 1 year low of $179.63 and a 1 year high of $244.14. The company has a fifty day simple moving average of $225.09 and a 200 day simple moving average of $225.33.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.49 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,995 shares of company stock worth $25,116,338. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Morgan Stanley raised their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.