Abner Herrman & Brock LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 59,865 shares of the semiconductor company’s stock after acquiring an additional 1,545 shares during the period. Abner Herrman & Brock LLC’s holdings in Analog Devices were worth $5,535,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Washington Trust Bank raised its stake in Analog Devices by 127.7% in the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 600 shares in the last quarter. Fort L.P. acquired a new position in shares of Analog Devices in the 2nd quarter valued at approximately $117,000. Integrated Investment Consultants LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at approximately $130,000. Clarus Wealth Advisors acquired a new position in shares of Analog Devices in the 2nd quarter valued at approximately $139,000. Finally, Summit Trail Advisors LLC raised its position in shares of Analog Devices by 401.2% in the 1st quarter. Summit Trail Advisors LLC now owns 10,455 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 8,369 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.
In other Analog Devices news, SVP Joseph Hassett sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $100.40, for a total transaction of $1,204,800.00. Following the sale, the senior vice president now directly owns 26,711 shares of the company’s stock, valued at approximately $2,681,784.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Margaret K. Seif sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total transaction of $262,413.00. The disclosure for this sale can be found here. Insiders have sold a total of 90,645 shares of company stock worth $8,862,608 over the last ninety days. 1.10% of the stock is currently owned by insiders.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.07. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 5.89 earnings per share for the current year.
Analog Devices announced that its board has authorized a share buyback program on Tuesday, August 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts have recently commented on ADI shares. BidaskClub cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Barclays restated an “overweight” rating and issued a $108.00 target price on shares of Analog Devices in a research report on Wednesday, October 3rd. SunTrust Banks restated a “buy” rating and issued a $118.00 target price on shares of Analog Devices in a research report on Thursday, August 30th. ValuEngine cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Finally, KeyCorp started coverage on shares of Analog Devices in a research report on Tuesday, September 25th. They issued a “sector weight” rating for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Analog Devices currently has a consensus rating of “Buy” and a consensus price target of $104.17.
Analog Devices Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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