Argus Investors Counsel Inc. Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Argus Investors Counsel Inc. grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 96.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,920 shares of the semiconductor company’s stock after purchasing an additional 4,880 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Analog Devices were worth $1,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in Analog Devices by 18.3% in the fourth quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock worth $667,363,000 after acquiring an additional 1,200,683 shares during the last quarter. Geode Capital Management LLC lifted its stake in Analog Devices by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 4,950,995 shares of the semiconductor company’s stock worth $424,353,000 after acquiring an additional 346,998 shares during the last quarter. Norges Bank purchased a new position in Analog Devices in the fourth quarter worth approximately $292,919,000. The Manufacturers Life Insurance Company lifted its stake in Analog Devices by 42.1% in the first quarter. The Manufacturers Life Insurance Company now owns 1,801,429 shares of the semiconductor company’s stock worth $189,636,000 after acquiring an additional 533,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Analog Devices by 20.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,792,028 shares of the semiconductor company’s stock worth $153,818,000 after acquiring an additional 302,982 shares during the last quarter. 89.49% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on ADI shares. Nomura decreased their price target on shares of Micron Technology from $45.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. SunTrust Banks decreased their price target on shares of Analog Devices to $122.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Morgan Stanley set a $123.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a research note on Thursday, May 23rd. BidaskClub downgraded shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Goldman Sachs Group downgraded shares of SUMCO CORP/ADR from a “buy” rating to a “neutral” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Analog Devices presently has an average rating of “Buy” and a consensus price target of $109.94.

In other news, SVP Steve Pietkiewicz sold 7,219 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $113.03, for a total transaction of $815,963.57. Following the completion of the sale, the senior vice president now owns 29,870 shares in the company, valued at approximately $3,376,206.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 94,006 shares of company stock valued at $9,987,148 in the last 90 days. Insiders own 0.50% of the company’s stock.

Shares of NASDAQ:ADI traded up $2.21 during trading on Tuesday, hitting $119.92. 2,305,200 shares of the company were exchanged, compared to its average volume of 2,752,546. The stock has a market capitalization of $42.81 billion, a PE ratio of 20.19, a P/E/G ratio of 1.78 and a beta of 1.43. The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. Analog Devices, Inc. has a 12-month low of $76.62 and a 12-month high of $119.93. The company has a 50 day moving average of $110.82.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.06. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 5.24 EPS for the current fiscal year.

About Analog Devices

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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