Montag & Caldwell LLC Buys Shares of 827,641 Analog Devices, Inc. (ADI)
Montag & Caldwell LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, Holdings Channel reports. The fund bought 827,641 shares of the semiconductor company’s stock, valued at approximately $64,391,000. Analog Devices makes up approximately 1.9% of Montag & Caldwell LLC’s investment portfolio, making the stock its 28th largest position.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in shares of Analog Devices during the first quarter valued at $100,000. Whittier Trust Co. of Nevada Inc. raised its position in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after buying an additional 475 shares during the period. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the first quarter worth $113,000. Heritage Trust Co bought a new position in Analog Devices during the first quarter worth $114,000. Finally, Guardian Life Insurance Co. of America raised its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares during the period. 87.76% of the stock is owned by institutional investors and hedge funds.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 78.04 on Friday. The stock’s 50 day moving average price is $79.11 and its 200-day moving average price is $79.68. Analog Devices, Inc. has a 1-year low of $59.01 and a 1-year high of $90.49. The stock has a market capitalization of $28.64 billion, a P/E ratio of 29.89 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.18. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. Equities research analysts anticipate that Analog Devices, Inc. will post $4.37 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on ADI shares. Zacks Investment Research lowered Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 15th. Stephens upgraded Analog Devices from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $93.00 price target on shares of Analog Devices in a research report on Tuesday, May 9th. Credit Suisse Group reiterated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Friday, May 26th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $90.00 price target (up previously from $87.00) on shares of Analog Devices in a research report on Thursday, June 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $89.92.
In other news, Director Bruce R. Evans purchased 14,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were bought at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the acquisition, the director now directly owns 67,540 shares in the company, valued at approximately $5,287,031.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Peter Real sold 4,505 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $80.07, for a total value of $360,715.35. Following the completion of the sale, the senior vice president now owns 13,531 shares in the company, valued at $1,083,427.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,086 shares of company stock worth $5,202,514. 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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