The Eads & Heald Investment Counsel invests in Analog Devices Inc. (ADI) Shares

The Eads & Heald Investment Counsel invests in Analog Devices Inc. (ADI) Shares

Eads & Heald Investment Counsel raised its stake in shares of Analog Devices Inc. (NASDAQ:ADI) by 15.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,521 shares of the company’s stock after buying an additional 735 shares during the period. Eads & Heald Investment Counsel’s holdings in Analog Devices were worth $313,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in ADI. PGGM Investments purchased a new position in shares of Analog Devices during the second quarter worth approximately $29,028,000. Candriam Luxembourg S.C.A. increased its position in shares of Analog Devices by 119.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 623,417 shares of the company’s stock worth $35,312,000 after buying an additional 339,513 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Analog Devices during the second quarter worth approximately $12,734,000. Moore Capital Management LP purchased a new position in shares of Analog Devices during the first quarter worth approximately $12,607,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Analog Devices during the second quarter worth approximately $9,639,000. Hedge funds and other institutional investors own 85.71% of the company’s stock.

Analog Devices Inc. (NASDAQ:ADI) traded up 2.31% during mid-day trading on Friday, hitting $62.11. 2,150,388 shares of the stock were exchanged. The company has a 50-day moving average price of $62.72 and a 200-day moving average price of $59.86. The company has a market cap of $19.10 billion, a P/E ratio of 29.34 and a beta of 1.25. Analog Devices Inc. has a one year low of $47.24 and a one year high of $66.91.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.07. The business earned $870 million during the quarter, compared to analysts’ expectations of $847.43 million. Analog Devices had a return on equity of 19.40% and a net margin of 19.49%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. On average, analysts predict that Analog Devices Inc. will post $2.92 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $58.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Morgan Stanley reiterated a “buy” rating and issued a $78.00 price target on shares of Analog Devices in a report on Thursday, August 18th. Wells Fargo & Co. reiterated a “buy” rating on shares of Analog Devices in a report on Thursday, August 18th. Pacific Crest reiterated a “buy” rating on shares of Analog Devices in a report on Sunday, September 11th. Finally, Stifel Nicolaus increased their price target on shares of Analog Devices from $78.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $70.64.

In related news, Director Ray Stata sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $64.06, for a total value of $3,203,000.00. Following the completion of the sale, the director now directly owns 257,631 shares in the company, valued at approximately $16,503,841.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David Zinsner sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $64.33, for a total value of $964,950.00. Following the completion of the sale, the senior vice president now owns 35,897 shares of the company’s stock, valued at $2,309,254.01. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analog Devices Company Profile

Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.

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