Frank Rimerman Advisors LLC Sells 5,853 Shares of Analog Devices, Inc. $ADI

Frank Rimerman Advisors LLC trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 46.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,656 shares of the semiconductor company’s stock after selling 5,853 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Analog Devices were worth $1,584,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ADI. Vanguard Group Inc. boosted its position in Analog Devices by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 49,465,370 shares of the semiconductor company’s stock valued at $9,975,681,000 after acquiring an additional 359,841 shares in the last quarter. Geode Capital Management LLC boosted its position in Analog Devices by 5.7% during the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock valued at $2,770,448,000 after purchasing an additional 633,425 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Analog Devices by 26.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after purchasing an additional 2,407,460 shares in the last quarter. Raymond James Financial Inc. grew its stake in Analog Devices by 0.3% in the first quarter. Raymond James Financial Inc. now owns 3,935,224 shares of the semiconductor company’s stock valued at $793,616,000 after purchasing an additional 12,666 shares during the last quarter. Finally, Amundi raised its holdings in Analog Devices by 29.2% in the first quarter. Amundi now owns 3,892,848 shares of the semiconductor company’s stock worth $785,071,000 after purchasing an additional 880,636 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the sale, the chief executive officer directly owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Martin Cotter sold 12,500 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the sale, the senior vice president owned 63,048 shares in the company, valued at $15,525,570. The trade was a 16.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 62,240 shares of company stock valued at $15,301,891. 0.33% of the stock is owned by insiders.

Analog Devices Price Performance

NASDAQ ADI opened at $230.13 on Wednesday. The company has a market cap of $113.21 billion, a price-to-earnings ratio of 58.71, a PEG ratio of 1.98 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.79. The stock’s fifty day moving average price is $239.80 and its 200 day moving average price is $234.36. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $258.13.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.10. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Benchmark raised their price target on shares of Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Wells Fargo & Company raised their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, August 21st. Cantor Fitzgerald upped their price target on Analog Devices from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 21st. Finally, Evercore ISI boosted their target price on Analog Devices from $280.00 to $303.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.89.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.