Adage Capital Partners GP L.L.C. decreased its position in shares of Analog Devices Inc. (NASDAQ:ADI) by 21.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,606 shares of the company’s stock after selling 86,400 shares during the period. Adage Capital Partners GP L.L.C. owned 0.10% of Analog Devices worth $20,341,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Peddock Capital Advisors LLC purchased a new position in Analog Devices during the third quarter worth about $101,000. Evercore Wealth Management LLC raised its position in Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock worth $100,000 after buying an additional 123 shares during the last quarter. Penserra Capital Management LLC raised its position in Analog Devices by 94.4% in the third quarter. Penserra Capital Management LLC now owns 1,932 shares of the company’s stock worth $123,000 after buying an additional 938 shares during the last quarter. Quadrant Capital Group LLC raised its position in Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock worth $131,000 after buying an additional 384 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in Analog Devices by 33.3% in the third quarter. CENTRAL TRUST Co now owns 2,521 shares of the company’s stock worth $162,000 after buying an additional 630 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.
Shares of Analog Devices Inc. (NASDAQ:ADI) opened at 73.01 on Thursday. The company’s 50 day moving average is $72.58 and its 200-day moving average is $65.63. Analog Devices Inc. has a 1-year low of $47.24 and a 1-year high of $74.87. The company has a market capitalization of $22.50 billion, a P/E ratio of 26.45 and a beta of 1.22.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $1 million for the quarter, compared to the consensus estimate of $941.92 million. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. On average, equities research analysts forecast that Analog Devices Inc. will post $3.40 EPS for the current year.
A number of research firms recently issued reports on ADI. Vetr upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating and set a $85.00 target price on the stock in a research note on Wednesday, January 11th. Evercore ISI reiterated a “buy” rating and issued a $85.00 target price (up from $80.00) on shares of Analog Devices in a research note on Friday, December 16th. B. Riley restated a “buy” rating and issued a $87.00 price target on shares of Analog Devices in a research report on Monday, November 28th. RBC Capital Markets restated an “outperform” rating and issued a $75.00 price target on shares of Analog Devices in a research report on Friday, November 25th. Finally, MKM Partners raised their price target on shares of Analog Devices from $67.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 23rd. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.48.
In other news, VP Eileen Wynne sold 2,770 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $74.16, for a total value of $205,423.20. Following the sale, the vice president now directly owns 2,165 shares in the company, valued at approximately $160,556.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenton J. Sicchitano sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $72.34, for a total transaction of $1,085,100.00. Following the completion of the sale, the director now owns 30,935 shares in the company, valued at $2,237,837.90. 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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