Wedge Capital Management L L P NC Purchases New Position in Analog Devices (ADI)

Wedge Capital Management L L P NC bought a new position in Analog Devices (NASDAQ:ADI) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 528,696 shares of the semiconductor company’s stock, valued at approximately $48,180,000. Wedge Capital Management L L P NC owned 0.14% of Analog Devices at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Reik & CO. LLC lifted its position in shares of Analog Devices by 16.8% in the fourth quarter. Reik & CO. LLC now owns 3,830 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 550 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Analog Devices by 4.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,766 shares of the semiconductor company’s stock worth $1,137,000 after purchasing an additional 555 shares in the last quarter. Somerset Trust Co lifted its position in shares of Analog Devices by 2.5% in the fourth quarter. Somerset Trust Co now owns 24,164 shares of the semiconductor company’s stock worth $2,151,000 after purchasing an additional 587 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Analog Devices by 12.1% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 5,521 shares of the semiconductor company’s stock worth $492,000 after purchasing an additional 595 shares in the last quarter. Finally, Windsor Capital Management LLC lifted its position in shares of Analog Devices by 7.2% in the fourth quarter. Windsor Capital Management LLC now owns 9,310 shares of the semiconductor company’s stock worth $828,000 after purchasing an additional 623 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

A number of research firms have recently issued reports on ADI. BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Monday. B. Riley reaffirmed a “buy” rating and set a $122.00 price objective (up previously from $113.00) on shares of Analog Devices in a research report on Wednesday, February 28th. SunTrust Banks raised their price objective on shares of Analog Devices to $116.00 and gave the company a “positive” rating in a research report on Thursday, April 12th. They noted that the move was a valuation call. Finally, KeyCorp raised their price objective on shares of Analog Devices from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, March 1st. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $101.21.

Analog Devices opened at $95.04 on Friday, Marketbeat Ratings reports. Analog Devices has a 12 month low of $93.58 and a 12 month high of $94.49. The company has a market capitalization of $35.05 billion, a PE ratio of 20.14, a PEG ratio of 1.40 and a beta of 1.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.31 and a current ratio of 1.76.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.13. Analog Devices had a net margin of 13.80% and a return on equity of 18.78%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 54.4% compared to the same quarter last year. analysts predict that Analog Devices will post 5.63 earnings per share for the current fiscal year.

In other news, SVP Peter Real sold 4,595 shares of the firm’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $90.00, for a total value of $413,550.00. Following the sale, the senior vice president now owns 18,195 shares in the company, valued at $1,637,550. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Margaret K. Seif sold 7,000 shares of the firm’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $89.86, for a total transaction of $629,020.00. Following the completion of the sale, the senior vice president now owns 24,517 shares in the company, valued at approximately $2,203,097.62. The disclosure for this sale can be found here. In the last three months, insiders sold 67,106 shares of company stock worth $6,060,346. Insiders own 1.10% of the company’s stock.

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.

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

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