MUFG Americas Holdings Corp Trims Holdings in Analog Devices, Inc. (NASDAQ:ADI)

MUFG Americas Holdings Corp reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,983 shares of the semiconductor company’s stock after selling 2,547 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Analog Devices were worth $24,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Analog Devices by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 31,611,473 shares of the semiconductor company’s stock worth $3,567,986,000 after purchasing an additional 506,468 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Analog Devices by 1.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,890,839 shares of the semiconductor company’s stock worth $2,110,675,000 after acquiring an additional 310,719 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Analog Devices by 3.6% during the 2nd quarter. Wells Fargo & Company MN now owns 7,579,610 shares of the semiconductor company’s stock worth $855,510,000 after acquiring an additional 260,484 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Analog Devices by 164.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,636,929 shares of the semiconductor company’s stock worth $636,240,000 after acquiring an additional 3,502,958 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Analog Devices by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,937,825 shares of the semiconductor company’s stock worth $331,591,000 after acquiring an additional 84,299 shares in the last quarter. 87.58% of the stock is owned by institutional investors and hedge funds.

ADI has been the topic of several research reports. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a research note on Saturday, August 31st. Loop Capital increased their target price on Analog Devices to $125.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Raymond James raised Analog Devices from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Wednesday, October 30th. Barclays raised Analog Devices from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $105.00 to $130.00 in a research report on Thursday, September 12th. Finally, Daiwa Capital Markets started coverage on Analog Devices in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $121.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $114.33.

ADI stock traded down $0.73 during mid-day trading on Thursday, reaching $113.44. The company had a trading volume of 70,950 shares, compared to its average volume of 2,164,071. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.35. The company has a market capitalization of $41.58 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 2.03 and a beta of 1.42. The firm has a fifty day simple moving average of $110.37 and a 200 day simple moving average of $110.34. Analog Devices, Inc. has a fifty-two week low of $80.08 and a fifty-two week high of $124.79.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.04. Analog Devices had a return on equity of 17.87% and a net margin of 24.71%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, analysts predict that Analog Devices, Inc. will post 5.2 earnings per share for the current year.

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $108.96, for a total value of $1,089,600.00. Following the transaction, the chief executive officer now owns 31,206 shares in the company, valued at approximately $3,400,205.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joseph Hassett sold 10,544 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $116.72, for a total value of $1,230,695.68. Following the completion of the transaction, the senior vice president now owns 34,360 shares in the company, valued at approximately $4,010,499.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,362 shares of company stock worth $5,780,793. Company insiders own 0.50% of the company’s stock.

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

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