Stratos Wealth Partners LTD. boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,291 shares of the semiconductor company’s stock after buying an additional 131 shares during the period. Stratos Wealth Partners LTD.’s holdings in Analog Devices were worth $772,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Puzo Michael J raised its holdings in Analog Devices by 0.4% during the 2nd quarter. Puzo Michael J now owns 57,555 shares of the semiconductor company’s stock worth $7,059,000 after buying an additional 216 shares during the period. Somerville Kurt F grew its stake in Analog Devices by 0.5% during the 2nd quarter. Somerville Kurt F now owns 125,568 shares of the semiconductor company’s stock valued at $15,399,000 after acquiring an additional 640 shares in the last quarter. DAVENPORT & Co LLC grew its stake in Analog Devices by 2.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 10,061 shares of the semiconductor company’s stock valued at $1,234,000 after acquiring an additional 268 shares in the last quarter. Elefante Mark B grew its stake in Analog Devices by 11.2% during the 2nd quarter. Elefante Mark B now owns 7,881 shares of the semiconductor company’s stock valued at $967,000 after acquiring an additional 796 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Analog Devices by 6.8% during the 2nd quarter. CIBC Asset Management Inc now owns 87,559 shares of the semiconductor company’s stock valued at $10,738,000 after acquiring an additional 5,601 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.
Shares of Analog Devices stock opened at $114.85 on Friday. Analog Devices, Inc. has a 12-month low of $79.07 and a 12-month high of $127.39. The stock has a market capitalization of $42.31 billion, a P/E ratio of 25.19, a PEG ratio of 1.85 and a beta of 1.35. The stock has a 50 day moving average price of $119.00 and a two-hundred day moving average price of $110.55. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 0.44.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. Analog Devices had a return on equity of 14.51% and a net margin of 20.05%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices, Inc. will post 4.65 earnings per share for the current year.
Several equities analysts have weighed in on ADI shares. SunTrust Banks lifted their target price on Analog Devices from $93.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday, June 30th. Raymond James lifted their target price on Analog Devices from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Edward Jones cut Analog Devices from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Zacks Investment Research raised Analog Devices from a “hold” rating to a “strong-buy” rating and set a $132.00 price target for the company in a research note on Wednesday, July 22nd. Finally, Royal Bank of Canada lowered their price target on Analog Devices from $136.00 to $122.00 in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices has a consensus rating of “Buy” and an average target price of $125.68.
In related news, SVP Steve Pietkiewicz sold 3,710 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $123.29, for a total value of $457,405.90. Also, Director Edward H. Frank sold 8,460 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $113.42, for a total value of $959,533.20. Following the completion of the transaction, the director now owns 19,775 shares of the company’s stock, valued at $2,242,880.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,325 shares of company stock valued at $1,661,769. Corporate insiders own 0.42% 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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