Peddock Capital Advisors LLC purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, Holdings Channel reports. The firm purchased 1,563 shares of the semiconductor company’s stock, valued at approximately $186,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ferguson Wellman Capital Management Inc. boosted its holdings in Analog Devices by 1.0% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 491,154 shares of the semiconductor company’s stock valued at $58,369,000 after purchasing an additional 5,001 shares during the last quarter. Executive Wealth Management LLC acquired a new position in Analog Devices in the 4th quarter valued at about $1,143,000. Ironvine Capital Partners LLC boosted its holdings in Analog Devices by 1.3% in the 4th quarter. Ironvine Capital Partners LLC now owns 164,041 shares of the semiconductor company’s stock valued at $19,495,000 after purchasing an additional 2,052 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Analog Devices in the 4th quarter valued at about $655,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Analog Devices by 6.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,571 shares of the semiconductor company’s stock valued at $543,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $108.96, for a total value of $1,089,600.00. Following the sale, the chief executive officer now directly owns 31,206 shares of the company’s stock, valued at approximately $3,400,205.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 4,950 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $120.10, for a total transaction of $594,495.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,320 shares of company stock worth $12,275,687. 0.50% of the stock is owned by insiders.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.03). Analog Devices had a return on equity of 16.39% and a net margin of 22.75%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Analog Devices’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, research analysts expect that Analog Devices, Inc. will post 4.78 EPS for the current fiscal year.
Several equities analysts have weighed in on the stock. Credit Suisse Group boosted their target price on shares of Analog Devices from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Daiwa Capital Markets started coverage on shares of Analog Devices in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $121.00 target price on the stock. BidaskClub lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Loop Capital upped their price objective on shares of Analog Devices from $125.00 to $130.00 and gave the stock a “positive” rating in a report on Friday, November 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $120.89.
About Analog Devices
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.
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