Round Table Services LLC Grows Position in Analog Devices, Inc. (ADI)

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Round Table Services LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 38.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,495 shares of the semiconductor company’s stock after acquiring an additional 1,800 shares during the period. Round Table Services LLC’s holdings in Analog Devices were worth $601,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in Analog Devices by 0.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 17,047,903 shares of the semiconductor company’s stock worth $1,576,249,000 after purchasing an additional 118,861 shares during the period. FMR LLC grew its holdings in Analog Devices by 3.9% in the second quarter. FMR LLC now owns 9,175,704 shares of the semiconductor company’s stock worth $880,133,000 after purchasing an additional 348,581 shares during the period. Morgan Stanley grew its holdings in Analog Devices by 19.9% in the second quarter. Morgan Stanley now owns 7,076,283 shares of the semiconductor company’s stock worth $678,754,000 after purchasing an additional 1,172,933 shares during the period. Northern Trust Corp grew its holdings in Analog Devices by 4.8% in the second quarter. Northern Trust Corp now owns 5,592,349 shares of the semiconductor company’s stock worth $536,419,000 after purchasing an additional 257,689 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt grew its holdings in shares of Analog Devices by 9.9% during the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,219,510 shares of the semiconductor company’s stock valued at $212,895,000 after buying an additional 200,000 shares during the last quarter. 88.10% of the stock is owned by institutional investors.

Shares of ADI stock opened at $80.41 on Tuesday. Analog Devices, Inc. has a 12-month low of $76.62 and a 12-month high of $103.59. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.16 and a current ratio of 1.58. The company has a market capitalization of $29.37 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.07 and a beta of 1.20.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 5.93 EPS for the current year.

Analog Devices declared that its board has authorized a stock buyback program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $95.43, for a total value of $954,300.00. Following the transaction, the chief executive officer now directly owns 19,699 shares in the company, valued at $1,879,875.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph Hassett sold 12,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $100.40, for a total transaction of $1,204,800.00. Following the completion of the transaction, the senior vice president now owns 26,711 shares in the company, valued at $2,681,784.40. The disclosure for this sale can be found here. Insiders sold 86,050 shares of company stock worth $8,422,958 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

ADI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Thursday, August 23rd. B. Riley cut their price target on shares of Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a report on Thursday, August 23rd. Stifel Nicolaus increased their price target on shares of Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. BMO Capital Markets reiterated a “buy” rating and set a $107.00 price target on shares of Analog Devices in a report on Monday, August 20th. Finally, SunTrust Banks reiterated a “buy” rating and set a $118.00 price target on shares of Analog Devices in a report on Thursday, August 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. Analog Devices presently has a consensus rating of “Hold” and an average price target of $103.70.

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

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