Wetherby Asset Management Inc. Buys 312 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wetherby Asset Management Inc. increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 4.5% during the second quarter, Holdings Channel reports. The firm owned 7,304 shares of the semiconductor company’s stock after acquiring an additional 312 shares during the period. Wetherby Asset Management Inc.’s holdings in Analog Devices were worth $825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ADI. Geode Capital Management LLC grew its position 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 valued at $424,353,000 after acquiring an additional 346,998 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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 valued at $189,636,000 after acquiring an additional 533,882 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 valued at $153,818,000 after acquiring an additional 302,982 shares during the last quarter. Fiera Capital Corp grew its position in Analog Devices by 2.8% in the first quarter. Fiera Capital Corp now owns 1,667,696 shares of the semiconductor company’s stock valued at $175,559,000 after acquiring an additional 44,740 shares during the last quarter. Finally, Findlay Park Partners LLP grew its position in Analog Devices by 132.7% in the first quarter. Findlay Park Partners LLP now owns 1,660,237 shares of the semiconductor company’s stock valued at $174,773,000 after acquiring an additional 946,883 shares during the last quarter. Institutional investors own 89.31% of the company’s stock.

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $118.43, for a total value of $1,184,300.00. Following the transaction, the chief executive officer now directly owns 31,206 shares of the company’s stock, valued at $3,695,726.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Yusuf Jamal sold 31,867 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 2,124 shares in the company, valued at $208,555.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,266 shares of company stock worth $11,006,074. 0.50% of the stock is owned by insiders.

Shares of Analog Devices stock traded down $0.76 during midday trading on Wednesday, reaching $108.52. The company had a trading volume of 42,415 shares, compared to its average volume of 2,046,042. The stock’s fifty day moving average is $114.94. The company has a current ratio of 1.52, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $40.15 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.73 and a beta of 1.41. Analog Devices, Inc. has a fifty-two week low of $76.62 and a fifty-two week high of $124.79.

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

A number of analysts have recently commented on ADI shares. Zacks Investment Research lowered Analog Devices from a “hold” rating to a “strong sell” rating and set a $102.00 price target on the stock. in a research note on Wednesday, May 29th. Goldman Sachs Group raised 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 note on Monday, June 10th. Nomura started coverage on Analog Devices in a research note on Monday, June 3rd. They set a “neutral” rating and a $90.00 price target on the stock. Morgan Stanley cut their price target on Analog Devices from $100.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. Finally, Piper Jaffray Companies lifted their price target on Analog Devices from $118.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $109.94.

Analog Devices 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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