Strategy Asset Managers LLC Invests $2.79 Million in Analog Devices (ADI) Stock

Strategy Asset Managers LLC purchased a new position in Analog Devices (NASDAQ:ADI) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 30,582 shares of the semiconductor company’s stock, valued at approximately $2,787,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. Sterling Capital Management LLC bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $87,511,000. Boston Partners bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $67,877,000. American Century Companies Inc. increased its position in shares of Analog Devices by 69.9% during the fourth quarter. American Century Companies Inc. now owns 1,683,434 shares of the semiconductor company’s stock valued at $149,876,000 after purchasing an additional 692,814 shares during the period. Wells Fargo & Company MN increased its position in shares of Analog Devices by 6.6% during the first quarter. Wells Fargo & Company MN now owns 8,608,728 shares of the semiconductor company’s stock valued at $784,513,000 after purchasing an additional 532,620 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Analog Devices during the first quarter valued at approximately $48,180,000. 88.40% of the stock is currently owned by institutional investors.

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Shares of ADI stock opened at $90.27 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.31 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $33,382.20, a P/E ratio of 19.13, a P/E/G ratio of 1.34 and a beta of 1.24. Analog Devices has a one year low of $75.27 and a one year high of $98.38.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.13. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.49 billion. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. Analog Devices’s quarterly revenue was up 54.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. research analysts expect that Analog Devices will post 5.63 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on ADI shares. Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. UBS upgraded Analog Devices from a “market perform” rating to an “outperform” rating in a research report on Monday, March 26th. Raymond James upgraded Analog Devices from a “market perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Monday, March 26th. Finally, Sanford C. Bernstein upgraded Analog Devices from a “market perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Tuesday, February 20th. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Analog Devices currently has an average rating of “Buy” and an average price target of $101.21.

In other Analog Devices news, CAO Eileen Wynne sold 5,209 shares of the business’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $94.86, for a total value of $494,125.74. Following the transaction, the chief accounting officer now owns 3,895 shares of the company’s stock, valued at $369,479.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $86.95, for a total value of $869,500.00. Following the completion of the transaction, the chief executive officer now directly owns 17,376 shares in the company, valued at approximately $1,510,843.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,511 shares of company stock worth $5,637,276. 1.10% of the stock is owned by insiders.

About Analog Devices

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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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