Pioneer Investment Management Inc. cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,723,871 shares of the semiconductor company’s stock after selling 116,251 shares during the period. Pioneer Investment Management Inc. owned approximately 0.47% of Analog Devices worth $134,118,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ADI. Vanguard Group Inc. boosted its stake in Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares during the period. BlackRock Inc. boosted its stake in Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock worth $1,888,562,000 after buying an additional 22,366,040 shares during the period. Wellington Management Group LLP boosted its stake in Analog Devices by 14.4% in the first quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock worth $1,514,372,000 after buying an additional 2,319,193 shares during the period. State Street Corp boosted its stake in Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock worth $1,225,852,000 after buying an additional 2,493,568 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Analog Devices by 8.4% in the first quarter. Wells Fargo & Company MN now owns 7,957,053 shares of the semiconductor company’s stock worth $652,081,000 after buying an additional 614,150 shares during the period. Hedge funds and other institutional investors own 87.76% of the company’s stock.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 78.87 on Tuesday. The firm has a market capitalization of $28.95 billion, a price-to-earnings ratio of 30.21 and a beta of 1.30. The firm has a 50-day moving average of $79.61 and a 200 day moving average of $79.52. Analog Devices, Inc. has a 52 week low of $59.01 and a 52 week high of $90.49.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post $4.37 earnings per share for the current fiscal year.
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ADI has been the subject of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a report on Monday, July 10th. BidaskClub cut shares of Analog Devices from a “hold” rating to a “sell” rating in a report on Saturday. Raymond James Financial, Inc. assumed coverage on shares of Analog Devices in a research report on Friday, June 16th. They set a “market perform” rating on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $92.00 price target on shares of Analog Devices in a research report on Friday. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $90.00 price target (up from $87.00) on shares of Analog Devices in a research report on Thursday, June 1st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $89.92.
In other news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $81.54, for a total value of $244,620.00. Following the completion of the sale, the senior vice president now owns 20,404 shares in the company, valued at $1,663,742.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 47,500 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the completion of the sale, the chief executive officer now owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The disclosure for this sale can be found here. Insiders sold 61,086 shares of company stock worth $5,202,514 over the last ninety days. Insiders own 1.10% of the company’s stock.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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