Intech Investment Management LLC Has $2.96 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Intech Investment Management LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,877 shares of the semiconductor company’s stock after selling 1,877 shares during the quarter. Intech Investment Management LLC’s holdings in Analog Devices were worth $2,964,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in Analog Devices in the 1st quarter worth approximately $537,171,000. Raymond James & Associates raised its holdings in shares of Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after acquiring an additional 1,422,054 shares in the last quarter. International Assets Investment Management LLC boosted its position in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after purchasing an additional 883,888 shares during the last quarter. American Century Companies Inc. grew its stake in Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after purchasing an additional 767,534 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,995 shares of company stock worth $25,116,338 over the last three months. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADI. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research note on Friday. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

Analog Devices Trading Up 0.3 %

Shares of ADI stock opened at $214.59 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $179.63 and a 1 year high of $244.14. The firm’s fifty day simple moving average is $224.87 and its 200 day simple moving average is $225.56. The firm has a market capitalization of $106.54 billion, a P/E ratio of 64.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Company Profile

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.