Polaris Greystone Financial Group LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Polaris Greystone Financial Group LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 237,796 shares of the semiconductor company’s stock, valued at approximately $27,347,000. Analog Devices makes up approximately 2.1% of Polaris Greystone Financial Group LLC’s portfolio, making the stock its 15th largest holding. Polaris Greystone Financial Group LLC owned 0.06% of Analog Devices at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. Lenox Wealth Advisors LLC bought a new position in Analog Devices during the second quarter worth about $28,000. Berman Capital Advisors LLC lifted its position in Analog Devices by 43.8% during the first quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 91 shares during the last quarter. TCI Wealth Advisors Inc. lifted its position in Analog Devices by 820.0% during the first quarter. TCI Wealth Advisors Inc. now owns 322 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 287 shares during the last quarter. Hanson McClain Inc. lifted its position in Analog Devices by 44.8% during the first quarter. Hanson McClain Inc. now owns 459 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 142 shares during the last quarter. Finally, Thor Advisors LLC acquired a new stake in Analog Devices during the first quarter worth approximately $67,000. Institutional investors own 89.31% of the company’s stock.

Shares of NASDAQ ADI traded down $4.91 during midday trading on Monday, reaching $107.77. 218,780 shares of the company were exchanged, compared to its average volume of 1,961,262. The company’s 50-day moving average price is $114.45. The stock has a market capitalization of $41.66 billion, a PE ratio of 18.14, a P/E/G ratio of 1.73 and a beta of 1.40. Analog Devices, Inc. has a one year low of $76.62 and a one year high of $124.79. The company has a current ratio of 1.52, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.06. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Analysts forecast that Analog Devices, Inc. will post 5.24 EPS for the current fiscal year.

In related news, SVP Yusuf Jamal sold 31,867 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total value of $3,129,020.73. Following the sale, the senior vice president now owns 2,124 shares of the company’s stock, valued at $208,555.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $118.43, for a total transaction of $1,184,300.00. Following the completion of the sale, the chief executive officer now directly owns 31,206 shares in the company, valued at approximately $3,695,726.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,266 shares of company stock worth $11,006,074. Insiders own 0.50% of the company’s stock.

Several brokerages have issued reports on ADI. Nomura began coverage on shares of Analog Devices in a research report on Monday, June 3rd. They set a “neutral” rating and a $90.00 price objective for the company. Piper Jaffray Companies raised their price objective on shares of Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. ValuEngine upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Goldman Sachs Group upgraded shares of Analog Devices from a “sell” rating to a “buy” rating and lifted their price target for the company from $101.00 to $114.00 in a research report on Monday, June 10th. Finally, Morgan Stanley dropped their price target on shares of Analog Devices from $100.00 to $97.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Buy” and a consensus price target of $109.94.

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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