Hartford Investment Management Co. lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.2% during the second quarter, Holdings Channel.com reports. The fund owned 90,521 shares of the semiconductor company’s stock after buying an additional 145 shares during the period. Hartford Investment Management Co.’s holdings in Analog Devices were worth $10,217,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Analog Devices by 20.3% during the 4th 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Analog Devices by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 4,950,995 shares of the semiconductor company’s stock valued at $424,353,000 after purchasing an additional 346,998 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Analog Devices by 0.5% in the 4th quarter. Nordea Investment Management AB now owns 37,703 shares of the semiconductor company’s stock valued at $3,237,000 after purchasing an additional 181 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in shares of Analog Devices by 193.2% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 95,940 shares of the semiconductor company’s stock valued at $10,100,000 after purchasing an additional 63,222 shares in the last quarter. Finally, XR Securities LLC acquired a new position in shares of Analog Devices in the 1st quarter valued at approximately $274,000. 89.31% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on ADI. Nomura began coverage on Analog Devices in a research report on Monday, June 3rd. They issued a “neutral” rating and a $90.00 target price on the stock. Royal Bank of Canada cut their target price on Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Piper Jaffray Companies upped their target price on Analog Devices from $118.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Morgan Stanley cut their target price on Analog Devices from $100.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Finally, SunTrust Banks cut their target price on Analog Devices to $122.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Analog Devices presently has an average rating of “Buy” and an average price target of $109.94.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.06. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $1.45 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 5.24 EPS for the current year.
In other news, SVP Yusuf Jamal sold 31,867 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $98.19, for a total value of $3,129,020.73. Following the completion of the sale, the senior vice president now directly owns 2,124 shares in the company, valued at approximately $208,555.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Frank sold 14,880 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $110.51, for a total value of $1,644,388.80. Following the transaction, the director now owns 16,520 shares of the company’s stock, valued at $1,825,625.20. The disclosure for this sale can be found here. Insiders sold a total of 102,266 shares of company stock valued at $11,006,074 over the last quarter. Company insiders own 0.50% of the company’s stock.
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.
See Also: Are analyst ratings accurate?
Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI).
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.