Putnam FL Investment Management Co. bought a new position in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,194 shares of the semiconductor company’s stock, valued at approximately $2,947,000.
Other hedge funds have also added to or reduced their stakes in the company. Boston Family Office LLC increased its stake in Analog Devices by 37.9% in the second quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after purchasing an additional 2,004 shares during the period. Prospera Financial Services Inc increased its stake in Analog Devices by 1.2% in the second quarter. Prospera Financial Services Inc now owns 21,196 shares of the semiconductor company’s stock worth $1,648,000 after purchasing an additional 253 shares during the period. Captrust Financial Advisors purchased a new stake in Analog Devices in the second quarter worth $1,130,000. Renaissance Technologies LLC increased its stake in Analog Devices by 4.5% in the second quarter. Renaissance Technologies LLC now owns 2,207,893 shares of the semiconductor company’s stock worth $171,774,000 after purchasing an additional 94,804 shares during the period. Finally, Dupont Capital Management Corp increased its stake in Analog Devices by 34.2% in the second quarter. Dupont Capital Management Corp now owns 14,481 shares of the semiconductor company’s stock worth $1,127,000 after purchasing an additional 3,690 shares during the period. Institutional investors and hedge funds own 86.42% of the company’s stock.
In related news, SVP Gregory N. Henderson sold 6,396 shares of Analog Devices stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.34, for a total transaction of $539,438.64. Following the completion of the transaction, the senior vice president now directly owns 10,327 shares in the company, valued at $870,979.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Champy sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the completion of the sale, the director now directly owns 20,185 shares in the company, valued at $1,715,725. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,994 shares of company stock valued at $11,604,048. Company insiders own 1.10% of the company’s stock.
A number of analysts have weighed in on ADI shares. Royal Bank Of Canada increased their target price on Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Tuesday, October 10th. BidaskClub upgraded Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 target price on shares of Analog Devices in a research note on Wednesday, August 30th. Finally, Morgan Stanley reissued an “overweight” rating and set a $96.00 price target on shares of Analog Devices in a research report on Thursday, August 31st. Twelve investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $93.69.
Shares of Analog Devices, Inc. (NASDAQ ADI) traded down $1.28 during trading hours on Thursday, hitting $89.16. The stock had a trading volume of 2,250,400 shares, compared to its average volume of 2,932,187. Analog Devices, Inc. has a 1 year low of $67.38 and a 1 year high of $92.96. The stock has a market capitalization of $33,080.00, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.76 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.52 and a current ratio of 1.99.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business posted $0.82 earnings per share. The company’s revenue for the quarter was up 64.9% compared to the same quarter last year. research analysts expect that Analog Devices, Inc. will post 4.62 EPS for the current fiscal year.
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About Analog Devices
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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