BlackRock Inc. lifted its stake in Analog Devices (NASDAQ:ADI) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,409,546 shares of the semiconductor company’s stock after buying an additional 475,934 shares during the quarter. BlackRock Inc. owned about 6.60% of Analog Devices worth $2,224,443,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Icon Wealth Partners LLC bought a new stake in Analog Devices during the 4th quarter valued at approximately $121,000. Cerebellum GP LLC bought a new stake in Analog Devices during the 4th quarter valued at approximately $130,000. Pin Oak Investment Advisors Inc. bought a new stake in Analog Devices during the 4th quarter valued at approximately $139,000. Bessemer Group Inc. raised its stake in Analog Devices by 257.4% during the 4th quarter. Bessemer Group Inc. now owns 1,680 shares of the semiconductor company’s stock valued at $150,000 after purchasing an additional 1,210 shares during the period. Finally, Massey Quick Simon & CO. LLC raised its stake in Analog Devices by 98.8% during the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,660 shares of the semiconductor company’s stock valued at $151,000 after purchasing an additional 825 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Margaret K. Seif sold 7,000 shares of Analog Devices stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $89.86, for a total value of $629,020.00. Following the completion of the transaction, the senior vice president now owns 24,517 shares in the company, valued at approximately $2,203,097.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $86.95, for a total value of $869,500.00. Following the completion of the transaction, the chief executive officer now owns 17,376 shares of the company’s stock, valued at approximately $1,510,843.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,106 shares of company stock valued at $6,060,346. Company insiders own 0.70% of the company’s stock.
Shares of Analog Devices stock opened at $95.71 on Wednesday. The company has a market capitalization of $35.09 billion, a PE ratio of 20.28, a P/E/G ratio of 1.40 and a beta of 1.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.76 and a quick ratio of 1.31. Analog Devices has a one year low of $76.07 and a one year high of $98.38.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.13. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. The company’s quarterly revenue was up 54.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. research analysts forecast that Analog Devices will post 5.63 earnings per share for the current year.
Several research firms have weighed in on ADI. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Tuesday. BidaskClub upgraded Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, May 11th. B. Riley restated a “buy” rating and set a $122.00 price target (up previously from $113.00) on shares of Analog Devices in a report on Wednesday, February 28th. SunTrust Banks raised their price target on Analog Devices to $116.00 and gave the company a “positive” rating in a report on Thursday, April 12th. They noted that the move was a valuation call. Finally, KeyCorp raised their price target on Analog Devices from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, March 1st. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $101.50.
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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