Analog Devices, Inc. (ADI) Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,084,108 shares of the semiconductor company’s stock after purchasing an additional 22,001 shares during the period. Bank of New York Mellon Corp owned about 0.84% of Analog Devices worth $265,757,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its position in Analog Devices by 51.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 475 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new position in Analog Devices in the 2nd quarter worth about $119,000. WFG Advisors LP increased its position in Analog Devices by 26.4% in the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 330 shares during the last quarter. Rockefeller Financial Services Inc. increased its position in Analog Devices by 7,478.3% in the 2nd quarter. Rockefeller Financial Services Inc. now owns 1,743 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 1,720 shares during the last quarter. Finally, Crow Point Partners LLC acquired a new position in Analog Devices in the 3rd quarter worth about $140,000. 86.42% of the stock is currently owned by institutional investors.

ADI has been the topic of several research reports. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 target price on shares of Analog Devices in a research report on Wednesday, August 30th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research report on Thursday, October 19th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $88.00 target price (down from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. Finally, Zacks Investment Research raised 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. Twelve equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $93.69.

In other news, Director James Champy sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $90.00, for a total value of $1,125,000.00. Following the completion of the transaction, the director now directly owns 21,910 shares of the company’s stock, valued at approximately $1,971,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $77.81, for a total value of $233,430.00. Following the completion of the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,587,635.24. The disclosure for this sale can be found here. Insiders sold a total of 135,994 shares of company stock valued at $11,604,048 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Shares of Analog Devices, Inc. (ADI) traded down $0.06 during mid-day trading on Friday, hitting $90.42. The company’s stock had a trading volume of 2,213,593 shares, compared to its average volume of 2,926,695. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.99 and a quick ratio of 1.52. Analog Devices, Inc. has a 52 week low of $67.62 and a 52 week high of $92.96. The company has a market cap of $33,270.00, a P/E ratio of 21.13, a P/E/G ratio of 1.76 and a beta of 1.32.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $0.82 EPS. The company’s quarterly revenue was up 64.9% on a year-over-year basis. equities analysts expect that Analog Devices, Inc. will post 4.62 EPS for the current year.

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

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