American Century Companies Inc. boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 69.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,683,434 shares of the semiconductor company’s stock after buying an additional 692,814 shares during the quarter. American Century Companies Inc. owned 0.45% of Analog Devices worth $149,876,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. ZWJ Investment Counsel Inc. boosted its position in shares of Analog Devices by 56.0% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 8,270 shares of the semiconductor company’s stock valued at $713,000 after purchasing an additional 2,970 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Analog Devices by 1.4% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 320,720 shares of the semiconductor company’s stock worth $27,636,000 after purchasing an additional 4,416 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Analog Devices by 25.4% during the 2nd quarter. Toronto Dominion Bank now owns 128,820 shares of the semiconductor company’s stock worth $10,021,000 after purchasing an additional 26,076 shares in the last quarter. Page Arthur B raised its stake in shares of Analog Devices by 5.2% in the 3rd quarter. Page Arthur B now owns 28,785 shares of the semiconductor company’s stock valued at $2,480,000 after acquiring an additional 1,410 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA raised its stake in shares of Analog Devices by 62.3% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 3,474 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 1,333 shares in the last quarter. 85.80% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Margaret K. Seif sold 7,000 shares of Analog Devices stock in a transaction on Monday, February 5th. The stock was sold at an average price of $88.50, for a total transaction of $619,500.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,805,754. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 100,000 shares of Analog Devices stock in a transaction on Monday, December 4th. The stock was sold at an average price of $85.17, for a total value of $8,517,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,061 shares of company stock valued at $16,163,741. 1.10% of the stock is currently owned by corporate insiders.
Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.09. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The firm’s quarterly revenue was up 53.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 earnings per share. analysts predict that Analog Devices, Inc. will post 5.2 EPS for the current year.
A number of brokerages recently weighed in on ADI. Stifel Nicolaus raised their price objective on Analog Devices from $97.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. B. Riley reaffirmed a “buy” rating and issued a $113.00 target price (up previously from $110.00) on shares of Analog Devices in a report on Thursday, November 16th. Jefferies Group reissued a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a report on Thursday, October 19th. Finally, Piper Jaffray Companies raised Analog Devices from a “neutral” rating to an “overweight” rating and set a $92.00 price objective on the stock in a report on Tuesday. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $97.21.
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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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