Smith Salley & Associates Sells 16,777 Shares of Analog Devices, Inc. (ADI)

Smith Salley & Associates trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 69,795 shares of the semiconductor company’s stock after selling 16,777 shares during the quarter. Smith Salley & Associates’ holdings in Analog Devices were worth $7,347,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Legacy Financial Advisors Inc. boosted its holdings in shares of Analog Devices by 9,766.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 296 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 293 shares during the period. PRW Wealth Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $27,000. Bruderman Asset Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $31,000. Liberty Wealth Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $33,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in shares of Analog Devices during the fourth quarter worth $34,000. Institutional investors own 91.48% of the company’s stock.

Several equities research analysts recently weighed in on ADI shares. Oppenheimer increased their price target on Analog Devices to $117.00 and gave the stock an “outperform” rating in a report on Thursday, February 21st. BidaskClub raised Analog Devices from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of Analog Devices in a report on Tuesday, April 30th. Zacks Investment Research raised Analog Devices from a “sell” rating to a “hold” rating in a report on Monday, February 18th. Finally, ValuEngine raised Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, January 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $105.67.

In related news, Director Ray Stata sold 20,000 shares of Analog Devices stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $107.68, for a total transaction of $2,153,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Eileen Wynne sold 2,736 shares of Analog Devices stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $105.28, for a total value of $288,046.08. Following the sale, the chief accounting officer now owns 4,888 shares of the company’s stock, valued at approximately $514,608.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,120 shares of company stock valued at $12,114,745. Company insiders own 0.50% of the company’s stock.

Shares of ADI stock traded down $1.70 during mid-day trading on Friday, reaching $108.85. The stock had a trading volume of 36,248 shares, compared to its average volume of 2,792,254. Analog Devices, Inc. has a 12-month low of $76.62 and a 12-month high of $118.54. The stock has a market cap of $40.72 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.73 and a beta of 1.27. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.54.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business posted $1.42 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 5.45 earnings per share for the current year.

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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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