Bp Plc lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 41.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,000 shares of the semiconductor company’s stock after selling 30,000 shares during the quarter. Bp Plc’s holdings in Analog Devices were worth $3,704,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Pathstone Family Office LLC grew its holdings in Analog Devices by 75.0% during the 2nd quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock worth $1,557,000 after acquiring an additional 15 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Analog Devices by 51.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 475 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in Analog Devices during the 2nd quarter worth about $119,000. WFG Advisors LP grew its holdings in Analog Devices by 26.4% during the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 330 shares during the last quarter. Finally, Crow Point Partners LLC bought a new stake in Analog Devices during the 3rd quarter worth about $140,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. Analog Devices’s revenue was up 64.9% compared to the same quarter last year.
ADI has been the topic of a number of research analyst reports. BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Drexel Hamilton reissued a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a report on Wednesday, August 30th. Jefferies Group LLC reissued a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a report on Thursday, October 19th. Citigroup Inc. reissued a “neutral” rating and set a $88.00 price objective (down previously from $91.00) on shares of Analog Devices in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Tuesday, October 10th. Eleven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $93.65.
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In related news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.81, for a total transaction of $233,430.00. Following the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at approximately $1,587,635.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gregory N. Henderson sold 6,396 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.34, for a total value of $539,438.64. Following the sale, the senior vice president now directly owns 10,327 shares in the company, valued at approximately $870,979.18. The disclosure for this sale can be found here. Insiders have sold 135,994 shares of company stock valued at $11,604,048 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.
Analog Devices Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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