Cadence Capital Management LLC Has $1.02 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Cadence Capital Management LLC decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 19.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,775 shares of the semiconductor company’s stock after selling 2,052 shares during the period. Cadence Capital Management LLC’s holdings in Analog Devices were worth $1,024,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Cantillon Capital Management LLC grew its stake in shares of Analog Devices by 1.0% in the second quarter. Cantillon Capital Management LLC now owns 4,990,949 shares of the semiconductor company’s stock worth $612,090,000 after acquiring an additional 48,620 shares during the last quarter. Capital World Investors grew its stake in shares of Analog Devices by 0.4% in the first quarter. Capital World Investors now owns 4,480,927 shares of the semiconductor company’s stock worth $401,715,000 after acquiring an additional 20,030 shares during the last quarter. Invesco Ltd. grew its stake in shares of Analog Devices by 39.1% in the first quarter. Invesco Ltd. now owns 4,322,089 shares of the semiconductor company’s stock worth $387,476,000 after acquiring an additional 1,215,616 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Analog Devices by 10.3% in the second quarter. Bank of New York Mellon Corp now owns 3,221,723 shares of the semiconductor company’s stock worth $395,112,000 after purchasing an additional 300,229 shares during the period. Finally, FIL Ltd lifted its position in Analog Devices by 30.8% in the second quarter. FIL Ltd now owns 2,221,465 shares of the semiconductor company’s stock worth $272,440,000 after purchasing an additional 523,403 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.

Several research analysts recently commented on the company. Bank of America reaffirmed a “buy” rating and issued a $145.00 target price on shares of Analog Devices in a research report on Tuesday, July 14th. Edward Jones cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Raymond James raised their target price on Analog Devices from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Credit Suisse Group raised their target price on Analog Devices from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. Finally, Royal Bank of Canada raised their target price on Analog Devices from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Analog Devices has an average rating of “Buy” and a consensus price target of $127.13.

In other news, SVP Martin Cotter sold 9,526 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $112.97, for a total transaction of $1,076,152.22. Following the completion of the transaction, the senior vice president now directly owns 5,908 shares in the company, valued at approximately $667,426.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph Hassett sold 15,681 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $120.82, for a total value of $1,894,578.42. Over the last quarter, insiders sold 78,068 shares of company stock valued at $9,056,979. Corporate insiders own 0.42% of the company’s stock.

Shares of Analog Devices stock traded down $0.34 during trading on Friday, reaching $123.64. The company’s stock had a trading volume of 2,232,510 shares, compared to its average volume of 3,012,510. The stock has a 50-day moving average price of $117.12 and a two-hundred day moving average price of $113.43. The company has a current ratio of 1.47, a quick ratio of 1.11 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $45.64 billion, a P/E ratio of 41.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. Analog Devices, Inc. has a one year low of $79.07 and a one year high of $127.39.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 19th. The semiconductor company reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.03. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. Analog Devices had a return on equity of 14.80% and a net margin of 20.14%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 4.79 EPS for the current fiscal year.

About Analog Devices

Analog Devices, Inc designs, manufactures, and markets integrated circuits (ICs), algorithms, software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company 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 and microwave ICs to support cellular infrastructure.

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

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