Puzo Michael J purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, Holdings Channel reports. The fund purchased 7,576 shares of the company’s stock, valued at approximately $488,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Analog Devices by 40.2% in the third quarter. JPMorgan Chase & Co. now owns 13,513,568 shares of the company’s stock worth $870,948,000 after buying an additional 3,872,491 shares during the period. Franklin Resources Inc. boosted its stake in shares of Analog Devices by 2.0% in the second quarter. Franklin Resources Inc. now owns 8,425,100 shares of the company’s stock worth $477,198,000 after buying an additional 161,650 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Analog Devices by 6.4% in the third quarter. Wells Fargo & Company MN now owns 7,343,329 shares of the company’s stock worth $473,278,000 after buying an additional 439,101 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Analog Devices by 3.5% in the third quarter. BlackRock Fund Advisors now owns 6,062,706 shares of the company’s stock worth $390,741,000 after buying an additional 204,101 shares during the period. Finally, First Pacific Advisors LLC boosted its stake in shares of Analog Devices by 12.7% in the second quarter. First Pacific Advisors LLC now owns 4,715,280 shares of the company’s stock worth $267,073,000 after buying an additional 529,910 shares during the period. Institutional investors and hedge funds own 90.38% of the company’s stock.
Analog Devices, Inc. (NASDAQ:ADI) opened at 76.53 on Monday. The company has a market capitalization of $23.58 billion, a P/E ratio of 27.73 and a beta of 1.19. Analog Devices, Inc. has a 52-week low of $48.68 and a 52-week high of $77.77. The stock’s 50 day moving average price is $73.96 and its 200-day moving average price is $67.52.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.16. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The business had revenue of $1 million for the quarter, compared to analyst estimates of $941.92 million. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts predict that Analog Devices, Inc. will post $3.39 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a research note on Tuesday, February 7th. RBC Capital Markets upped their price target on shares of Analog Devices from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, January 30th. KeyCorp upped their price target on shares of Analog Devices from $77.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 23rd. Vetr upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a research note on Wednesday, January 11th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Analog Devices in a research note on Wednesday, November 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $77.22.
In related news, Director Ray Stata sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $74.53, for a total value of $1,863,250.00. Following the sale, the director now owns 257,631 shares in the company, valued at approximately $19,201,238.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Hodgson sold 5,000 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $73.95, for a total value of $369,750.00. Following the completion of the sale, the director now owns 15,985 shares in the company, valued at approximately $1,182,090.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,900 shares of company stock worth $5,370,974. Corporate insiders own 1.10% of the company’s stock.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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