Swiss National Bank increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 51.3% during the first quarter, Holdings Channel reports. The firm owned 1,291,248 shares of the semiconductor company’s stock after buying an additional 437,580 shares during the period. Swiss National Bank’s holdings in Analog Devices were worth $105,818,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in Analog Devices during the first quarter valued at approximately $20,838,000. Crawford Investment Counsel Inc. acquired a new position in shares of Analog Devices during the first quarter worth about $438,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Analog Devices by 20.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,817 shares of the semiconductor company’s stock worth $6,131,000 after buying an additional 12,484 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Analog Devices by 26.0% in the first quarter. LS Investment Advisors LLC now owns 9,662 shares of the semiconductor company’s stock worth $792,000 after buying an additional 1,993 shares during the last quarter. Finally, MUFG Americas Holdings Corp increased its position in shares of Analog Devices by 24.8% in the first quarter. MUFG Americas Holdings Corp now owns 180,989 shares of the semiconductor company’s stock worth $14,832,000 after buying an additional 35,909 shares during the last quarter. 90.38% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices, Inc. (NASDAQ:ADI) traded up 1.35% during midday trading on Friday, hitting $81.57. The stock had a trading volume of 2,662,968 shares. The company has a market cap of $25.22 billion, a PE ratio of 27.82 and a beta of 1.19. The firm has a 50-day moving average of $78.44 and a 200-day moving average of $75.88. Analog Devices, Inc. has a 12-month low of $52.17 and a 12-month high of $84.24.
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A number of brokerages have recently issued reports on ADI. Pacific Crest upped their price target on Analog Devices to $98.00 and gave the company an “overweight” rating in a report on Tuesday, March 7th. Stifel Nicolaus upped their price target on Analog Devices to $92.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. B. Riley reaffirmed a “buy” rating and set a $103.00 price target on shares of Analog Devices in a report on Thursday, March 16th. Jefferies Group LLC upped their price target on Analog Devices to $100.00 and gave the company a “buy” rating in a report on Monday, March 20th. Finally, Credit Suisse Group AG began coverage on Analog Devices in a report on Tuesday, March 14th. They set an “outperform” rating and a $100.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $84.32.
In related news, CEO Vincent Roche sold 47,400 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $81.80, for a total value of $3,877,320.00. Following the transaction, the chief executive officer now directly owns 75,481 shares in the company, valued at $6,174,345.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rick D. Hess sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $82.45, for a total value of $494,700.00. Following the completion of the transaction, the insider now owns 29,085 shares in the company, valued at $2,398,058.25. The disclosure for this sale can be found here. Insiders sold 140,695 shares of company stock valued at $11,553,978 over the last 90 days. Company insiders own 1.10% of the company’s stock.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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