State of Alaska Department of Revenue Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

State of Alaska Department of Revenue lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 28.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,727 shares of the semiconductor company’s stock after buying an additional 13,305 shares during the quarter. State of Alaska Department of Revenue’s holdings in Analog Devices were worth $6,852,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Perella Weinberg Partners Capital Management LP purchased a new stake in shares of Analog Devices in the second quarter valued at $2,727,000. Dowling & Yahnke LLC acquired a new position in Analog Devices in the second quarter valued at $523,000. AE Wealth Management LLC acquired a new position in Analog Devices in the second quarter valued at $257,000. Flagship Harbor Advisors LLC increased its stake in Analog Devices by 7.6% in the second quarter. Flagship Harbor Advisors LLC now owns 2,255 shares of the semiconductor company’s stock valued at $254,000 after purchasing an additional 160 shares during the last quarter. Finally, Alpha Cubed Investments LLC increased its stake in Analog Devices by 7.8% in the second quarter. Alpha Cubed Investments LLC now owns 4,400 shares of the semiconductor company’s stock valued at $497,000 after purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.

NASDAQ:ADI traded down $2.91 on Wednesday, hitting $118.05. 1,405,166 shares of the stock were exchanged, compared to its average volume of 1,816,024. The stock has a market capitalization of $44.38 billion, a PE ratio of 19.87, a PEG ratio of 1.87 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.52. The business has a fifty day moving average of $113.74. Analog Devices, Inc. has a fifty-two week low of $76.62 and a fifty-two week high of $124.79.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.06. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share. Research analysts expect that Analog Devices, Inc. will post 5.24 EPS for the current year.

In other news, Director Edward H. Frank sold 14,880 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $110.51, for a total value of $1,644,388.80. Following the completion of the sale, the director now owns 16,520 shares in the company, valued at $1,825,625.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Yusuf Jamal sold 31,867 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total value of $3,129,020.73. Following the completion of the sale, the senior vice president now owns 2,124 shares of the company’s stock, valued at approximately $208,555.56. The disclosure for this sale can be found here. Insiders have sold 92,266 shares of company stock valued at $9,821,774 over the last 90 days. 0.50% of the stock is currently owned by insiders.

ADI has been the subject of several analyst reports. SunTrust Banks dropped their target price on Analog Devices to $122.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Morgan Stanley dropped their target price on Analog Devices from $100.00 to $97.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Piper Jaffray Companies upped their target price on Analog Devices from $118.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. ValuEngine upgraded Analog Devices from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Finally, Goldman Sachs Group upgraded Analog Devices from a “sell” rating to a “buy” rating and upped their target price for the company from $101.00 to $114.00 in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $109.94.

About Analog Devices

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

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