Analog Devices, Inc. (ADI) Stake Lowered by OLD Dominion Capital Management Inc.

OLD Dominion Capital Management Inc. decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,232 shares of the semiconductor company’s stock after selling 1,813 shares during the period. OLD Dominion Capital Management Inc.’s holdings in Analog Devices were worth $1,197,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ADI. Legacy Financial Advisors Inc. grew its position in Analog Devices by 9,766.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 296 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 293 shares during the period. PRW Wealth Management LLC acquired a new stake in Analog Devices in the 4th quarter valued at $27,000. TCI Wealth Advisors Inc. grew its position in Analog Devices by 820.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 322 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 287 shares during the period. Bruderman Asset Management LLC acquired a new stake in Analog Devices in the 4th quarter valued at $31,000. Finally, Liberty Wealth Management LLC acquired a new stake in Analog Devices in the 4th quarter valued at $33,000. 91.21% of the stock is owned by institutional investors.

Several analysts recently issued reports on ADI shares. Zacks Investment Research raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. SunTrust Banks raised their price objective on Analog Devices to $126.00 and gave the company an “average” rating in a research note on Thursday, February 21st. Robert W. Baird restated a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research note on Wednesday, February 20th. Piper Jaffray Companies restated an “outperform” rating and set a $112.00 price objective on shares of Analog Devices in a research note on Friday, February 1st. Finally, ValuEngine upgraded Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $105.67.

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.50, for a total transaction of $1,165,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Champy sold 4,250 shares of Analog Devices stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $115.04, for a total value of $488,920.00. Following the sale, the director now owns 17,510 shares in the company, valued at $2,014,350.40. The disclosure for this sale can be found here. Insiders have sold a total of 112,120 shares of company stock worth $12,114,745 over the last quarter. Company insiders own 0.50% of the company’s stock.

Shares of NASDAQ ADI traded down $3.87 during mid-day trading on Friday, reaching $100.83. 5,451,359 shares of the company’s stock were exchanged, compared to its average volume of 2,810,718. The stock has a market capitalization of $37.14 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.54 and a beta of 1.27. Analog Devices, Inc. has a 52 week low of $76.62 and a 52 week high of $118.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 1.64.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.05. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 EPS. Research analysts expect that Analog Devices, Inc. will post 5.47 EPS for the current fiscal 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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