Tdam USA Inc. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 40.0% in the 1st quarter, Holdings Channel reports. The firm owned 8,449 shares of the semiconductor company’s stock after selling 5,640 shares during the period. Tdam USA Inc.’s holdings in Analog Devices were worth $889,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc increased its holdings in Analog Devices by 1.6% in the third quarter. Vanguard Group Inc now owns 31,687,292 shares of the semiconductor company’s stock valued at $2,929,807,000 after purchasing an additional 496,719 shares during the period. Somerset Trust Co grew its holdings in Analog Devices by 2.6% during the 4th quarter. Somerset Trust Co now owns 25,429 shares of the semiconductor company’s stock worth $2,183,000 after acquiring an additional 650 shares during the period. Tompkins Financial Corp grew its holdings in Analog Devices by 74.8% during the 4th quarter. Tompkins Financial Corp now owns 549 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 235 shares during the period. BB&T Corp grew its holdings in Analog Devices by 9.9% during the 4th quarter. BB&T Corp now owns 136,100 shares of the semiconductor company’s stock worth $11,682,000 after acquiring an additional 12,260 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in Analog Devices during the 4th quarter worth about $262,000. 91.21% of the stock is owned by institutional investors and hedge funds.
NASDAQ:ADI traded up $2.96 on Tuesday, hitting $100.46. The stock had a trading volume of 1,988,962 shares, compared to its average volume of 2,862,542. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.64 and a current ratio of 2.34. The firm has a market cap of $35.91 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27. Analog Devices, Inc. has a 1 year low of $76.62 and a 1 year high of $118.54.
In other news, Director James Champy sold 7,210 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $105.31, for a total transaction of $759,285.10. Following the completion of the sale, the director now owns 20,130 shares in the company, valued at approximately $2,119,890.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Eileen Wynne sold 2,736 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $105.28, for a total transaction of $288,046.08. Following the sale, the chief accounting officer now owns 4,888 shares of the company’s stock, valued at approximately $514,608.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,120 shares of company stock valued at $12,114,745. 0.50% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the stock. BidaskClub cut shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 30th. ValuEngine cut shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Saturday. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of Analog Devices in a research report on Tuesday, April 30th. Zacks Investment Research cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Finally, Oppenheimer raised their price target on shares of Analog Devices to $117.00 and gave the company an “outperform” rating in a research report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $105.67.
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Analog Devices Company 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.
Further Reading: Investing in Growth Stocks
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