State of Michigan Retirement System raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,103 shares of the semiconductor company’s stock after purchasing an additional 9,608 shares during the quarter. State of Michigan Retirement System’s holdings in Analog Devices were worth $11,541,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. MBE Wealth Management LLC acquired a new stake in shares of Analog Devices in the 1st quarter valued at about $25,000. Ameritas Investment Company LLC raised its stake in shares of Analog Devices by 109.4% during the 1st quarter. Ameritas Investment Company LLC now owns 289 shares of the semiconductor company’s stock worth $26,000 after buying an additional 151 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Analog Devices by 183.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 210 shares of the semiconductor company’s stock worth $26,000 after buying an additional 136 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Analog Devices in the 1st quarter worth approximately $29,000. Finally, Watson Rebecca acquired a new stake in shares of Analog Devices in the 2nd quarter worth approximately $33,000. Institutional investors own 85.36% of the company’s stock.
ADI has been the topic of several analyst reports. SunTrust Banks raised their price objective on Analog Devices from $93.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, June 30th. Stifel Nicolaus raised their price objective on Analog Devices from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Oppenheimer began coverage on Analog Devices in a report on Wednesday, June 10th. They set a “buy” rating and a $140.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and issued a $145.00 target price on shares of Analog Devices in a research report on Tuesday, July 14th. Finally, Barclays cut their target price on Analog Devices from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Analog Devices presently has an average rating of “Buy” and a consensus target price of $125.68.
In related news, SVP Steve Pietkiewicz sold 3,710 shares of Analog Devices stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $123.29, for a total value of $457,405.90. Also, Director Edward H. Frank sold 8,460 shares of Analog Devices stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $113.42, for a total value of $959,533.20. Following the completion of the transaction, the director now owns 19,775 shares of the company’s stock, valued at $2,242,880.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,325 shares of company stock worth $1,661,769. Corporate insiders own 0.42% of the company’s stock.
Shares of NASDAQ ADI traded down $1.45 during midday trading on Friday, reaching $114.85. 3,293,277 shares of the company’s stock were exchanged, compared to its average volume of 3,826,893. Analog Devices, Inc. has a 52-week low of $79.07 and a 52-week high of $127.39. The stock has a market capitalization of $42.31 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.92 and a current ratio of 1.30. The business’s fifty day moving average price is $119.00 and its two-hundred day moving average price is $110.55.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. Analog Devices had a return on equity of 14.51% and a net margin of 20.05%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 4.65 earnings per share for the current fiscal year.
Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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