Janney Montgomery Scott LLC lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,776 shares of the semiconductor company’s stock after purchasing an additional 7,080 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Analog Devices were worth $13,109,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of ADI. Moody National Bank Trust Division bought a new position in Analog Devices in the 3rd quarter valued at approximately $105,000. Fort L.P. bought a new position in Analog Devices in the 2nd quarter valued at approximately $117,000. Integrated Investment Consultants LLC bought a new position in Analog Devices in the 2nd quarter valued at approximately $130,000. Sawtooth Solutions LLC bought a new position in Analog Devices in the 2nd quarter valued at approximately $200,000. Finally, Gamble Jones Investment Counsel bought a new position in Analog Devices in the 2nd quarter valued at approximately $200,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ ADI opened at $87.59 on Friday. The firm has a market cap of $32.82 billion, a PE ratio of 18.56, a PEG ratio of 1.22 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. Analog Devices, Inc. has a 1-year low of $76.62 and a 1-year high of $103.59.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.07. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 5.93 EPS for the current fiscal year.
Analog Devices announced that its board has approved a stock repurchase program on Tuesday, August 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
ADI has been the topic of several analyst reports. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research report on Tuesday, July 17th. B. Riley lowered their price objective on Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. Stifel Nicolaus upped their price objective on Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $107.00 price objective on shares of Analog Devices in a research report on Monday, August 20th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Analog Devices in a research report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $103.70.
In other news, SVP Margaret K. Seif sold 2,700 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $243,000.00. Following the completion of the sale, the senior vice president now directly owns 24,517 shares in the company, valued at approximately $2,206,530. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total value of $971,900.00. Following the completion of the sale, the chief executive officer now owns 27,376 shares of the company’s stock, valued at $2,660,673.44. The disclosure for this sale can be found here. Insiders have sold a total of 88,750 shares of company stock worth $8,561,658 over the last three months. Insiders own 1.10% of the company’s stock.
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Analog Devices 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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