Navellier & Associates Inc. Decreases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Navellier & Associates Inc. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,810 shares of the semiconductor company’s stock after selling 173 shares during the quarter. Navellier & Associates Inc.’s holdings in Analog Devices were worth $877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ADI. Axxcess Wealth Management LLC raised its holdings in shares of Analog Devices by 20.9% during the first quarter. Axxcess Wealth Management LLC now owns 5,962 shares of the semiconductor company’s stock valued at $1,179,000 after purchasing an additional 1,031 shares during the last quarter. Capital International Inc. CA boosted its stake in shares of Analog Devices by 10.2% in the 1st quarter. Capital International Inc. CA now owns 7,638 shares of the semiconductor company’s stock worth $1,511,000 after buying an additional 708 shares during the last quarter. Magnetar Financial LLC bought a new position in Analog Devices in the first quarter valued at about $3,573,000. Price T Rowe Associates Inc. MD grew its stake in shares of Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its position in shares of Analog Devices by 1.0% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 10,955 shares of the semiconductor company’s stock valued at $2,167,000 after purchasing an additional 111 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $213.36 on Friday. The firm has a fifty day simple moving average of $225.09 and a two-hundred day simple moving average of $225.33. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $105.93 billion, a P/E ratio of 64.07, a PEG ratio of 2.97 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results 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 firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $2.49 EPS. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADI. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley lifted their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $249.80.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward H. Frank sold 995 shares of the company’s 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 owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,995 shares of company stock valued at $25,116,338. 0.31% of the stock is currently owned by insiders.

Analog Devices 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.