Analog Devices, Inc. (NASDAQ:ADI) Position Cut by Morningstar Investment Services LLC

Morningstar Investment Services LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 194,801 shares of the semiconductor company’s stock after selling 7,920 shares during the quarter. Morningstar Investment Services LLC owned about 0.05% of Analog Devices worth $23,181,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ADI. Harbor Investment Advisory LLC grew its holdings in Analog Devices by 183.8% during the second quarter. Harbor Investment Advisory LLC now owns 210 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 136 shares during the period. Watson Rebecca bought a new position in shares of Analog Devices during the 2nd quarter valued at about $33,000. MBE Wealth Management LLC acquired a new position in shares of Analog Devices in the 1st quarter worth approximately $25,000. Ameritas Investment Company LLC raised its holdings in shares of Analog Devices by 109.4% in the 1st quarter. Ameritas Investment Company LLC now owns 289 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in Analog Devices during the first quarter valued at approximately $29,000. 85.36% of the stock is owned by institutional investors.

In related news, Director James Champy sold 2,155 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $113.61, for a total transaction of $244,829.55. Following the transaction, the director now owns 12,415 shares of the company’s stock, valued at $1,410,468.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward H. Frank sold 8,460 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $113.42, for a total transaction of $959,533.20. Following 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. In the last quarter, insiders have sold 14,325 shares of company stock worth $1,661,769. Corporate insiders own 0.42% of the company’s stock.

Several research analysts have issued reports on ADI shares. SunTrust Banks upped their price target on Analog Devices from $93.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday, June 30th. Stifel Nicolaus increased their price target on Analog Devices from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Robert W. Baird cut their price objective on Analog Devices from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Oppenheimer initiated coverage on shares of Analog Devices in a report on Wednesday, June 10th. They issued a “buy” rating and a $140.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating and set a $132.00 price target on the stock in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and an average price target of $125.68.

Shares of ADI traded down $1.45 during mid-day trading on Friday, hitting $114.85. 3,293,277 shares of the company’s stock were exchanged, compared to its average volume of 3,826,893. The stock has a market cap of $42.31 billion, a price-to-earnings ratio of 38.54, a P/E/G ratio of 1.88 and a beta of 1.35. The firm has a fifty day moving average of $119.00 and a two-hundred day moving average of $110.55. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 0.44. Analog Devices, Inc. has a twelve month low of $79.07 and a twelve month high of $127.39.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 4.65 earnings per share for the current year.

Analog Devices 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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