Today: Today, Analog Devices Inc. (ADI) Position Increased by Smith Salley & Associates

Today, Analog Devices Inc. (ADI) Position Increased by Smith Salley & Associates

Smith Salley & Associates increased its stake in Analog Devices Inc. (NASDAQ:ADI) by 19.6% during the second quarter, Holdings Channel reports. The fund owned 23,721 shares of the company’s stock after buying an additional 3,882 shares during the period. Smith Salley & Associates’ holdings in Analog Devices were worth $1,343,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. NN Investment Partners Holdings N.V. bought a new stake in shares of Analog Devices during the first quarter valued at approximately $105,000. Meeder Asset Management Inc. bought a new stake in shares of Analog Devices during the first quarter valued at approximately $112,000. Quadrant Capital Group LLC increased its stake in shares of Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock valued at $131,000 after buying an additional 384 shares during the last quarter. Signaturefd LLC increased its stake in shares of Analog Devices by 347.0% in the second quarter. Signaturefd LLC now owns 2,977 shares of the company’s stock valued at $169,000 after buying an additional 2,311 shares during the last quarter. Finally, Virginia Retirement System bought a new stake in shares of Analog Devices during the first quarter valued at approximately $300,000. 85.70% of the stock is owned by institutional investors and hedge funds.

Shares of Analog Devices Inc. (NASDAQ:ADI) traded up 1.30% on Tuesday, reaching $62.50. 950,402 shares of the company traded hands. The stock’s 50 day moving average price is $62.67 and its 200-day moving average price is $59.92. Analog Devices Inc. has a one year low of $47.24 and a one year high of $66.91. The stock has a market capitalization of $19.22 billion, a P/E ratio of 29.52 and a beta of 1.25.

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

Several analysts recently commented on the stock. B. Riley reaffirmed a “buy” rating and set a $73.00 target price on shares of Analog Devices in a report on Monday, August 1st. Deutsche Bank AG lifted their target price on shares of Analog Devices from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 27th. Oppenheimer Holdings Inc. raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Wednesday, July 27th. MKM Partners lifted their target price on shares of Analog Devices from $56.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Finally, Evercore ISI raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, July 27th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.64.

In related news, Director John C. Hodgson sold 7,500 shares of Analog Devices stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total value of $483,150.00. Following the transaction, the director now directly owns 18,485 shares of the company’s stock, valued at $1,190,803.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 50,000 shares of Analog Devices stock in a transaction on Friday, August 19th. The stock was sold at an average price of $64.06, for a total transaction of $3,203,000.00. Following the completion of the transaction, the director now directly owns 257,631 shares in the company, valued at $16,503,841.86. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

About Analog Devices

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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