First Business Financial Services Inc. acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,675 shares of the semiconductor company’s stock, valued at approximately $403,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Boston Family Office LLC grew its position in Analog Devices by 37.9% during the 2nd quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after acquiring an additional 2,004 shares during the last quarter. Aviance Capital Management LLC bought a new stake in Analog Devices during the 1st quarter worth $226,000. Prospera Financial Services Inc grew its position in Analog Devices by 1.2% during the 2nd quarter. Prospera Financial Services Inc now owns 21,196 shares of the semiconductor company’s stock worth $1,648,000 after acquiring an additional 253 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Analog Devices in the 2nd quarter valued at about $1,130,000. Finally, KCG Holdings Inc. grew its position in shares of Analog Devices by 455.1% in the 1st quarter. KCG Holdings Inc. now owns 24,624 shares of the semiconductor company’s stock valued at $2,018,000 after buying an additional 20,188 shares during the last quarter. 86.42% of the stock is owned by hedge funds and other institutional investors.
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ADI has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price objective on Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, August 31st. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Tuesday, October 10th. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 price target on shares of Analog Devices in a research note on Wednesday, August 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $96.00 price objective on shares of Analog Devices in a research note on Thursday, August 31st. Twelve investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $93.65.
In related news, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $83.50, for a total value of $2,087,500.00. Following the completion of the transaction, the director now owns 234,481 shares of the company’s stock, valued at approximately $19,579,163.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $77.81, for a total transaction of $233,430.00. Following the completion of the sale, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,587,635.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,994 shares of company stock valued at $11,604,048. Insiders own 1.10% of the company’s stock.
Shares of Analog Devices, Inc. (ADI) opened at $90.44 on Wednesday. The firm has a market cap of $32,939.35, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.74 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, Inc. has a 12 month low of $66.47 and a 12 month high of $92.96.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was up 64.9% compared to the same quarter last year. equities research analysts predict that Analog Devices, Inc. will post 4.6 earnings per share for the current year.
Analog Devices Company 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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