Markel Corp Purchases 22,000 Shares of Analog Devices, Inc. (ADI)
Markel Corp increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 537,811 shares of the semiconductor company’s stock after buying an additional 22,000 shares during the quarter. Analog Devices accounts for approximately 0.9% of Markel Corp’s investment portfolio, making the stock its 28th largest position. Markel Corp owned approximately 0.15% of Analog Devices worth $46,343,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of Analog Devices by 4.3% in the third quarter. Victory Capital Management Inc. now owns 25,734 shares of the semiconductor company’s stock valued at $2,217,000 after buying an additional 1,060 shares during the period. OLD National Bancorp IN increased its stake in shares of Analog Devices by 12.0% in the third quarter. OLD National Bancorp IN now owns 18,984 shares of the semiconductor company’s stock valued at $1,636,000 after buying an additional 2,033 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Analog Devices in the third quarter valued at approximately $10,616,000. Somerville Kurt F increased its stake in shares of Analog Devices by 15.0% in the third quarter. Somerville Kurt F now owns 116,494 shares of the semiconductor company’s stock valued at $10,038,000 after buying an additional 15,205 shares during the period. Finally, Elefante Mark B increased its stake in shares of Analog Devices by 20.8% in the third quarter. Elefante Mark B now owns 5,025 shares of the semiconductor company’s stock valued at $432,000 after buying an additional 865 shares during the period. 86.65% of the stock is owned by institutional investors.
Several research firms have recently issued reports on ADI. Jefferies Group LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Thursday, October 19th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $106.00 price objective on shares of Analog Devices in a research note on Thursday, October 12th. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Tuesday, October 10th. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, October 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Analog Devices in a research note on Monday, September 25th. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Analog Devices has an average rating of “Buy” and a consensus target price of $93.65.
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Shares of Analog Devices, Inc. (ADI) traded up 0.05% during trading on Wednesday, hitting $91.35. The company had a trading volume of 223,490 shares. The firm has a market capitalization of $33.59 billion, a P/E ratio of 45.47 and a beta of 1.30. Analog Devices, Inc. has a 1-year low of $62.50 and a 1-year high of $92.11. The company’s 50 day moving average is $87.02 and its 200 day moving average is $81.50.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The firm’s revenue for the quarter was up 64.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. Analysts anticipate that Analog Devices, Inc. will post $4.62 earnings per share for the current fiscal year.
In other news, Director James Champy sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $85.00, for a total value of $850,000.00. Following the sale, the director now directly owns 20,185 shares of the company’s stock, valued at $1,715,725. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Gregory N. Henderson sold 6,396 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.34, for a total value of $539,438.64. Following the completion of the sale, the senior vice president now directly owns 10,327 shares in the company, valued at $870,979.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,994 shares of company stock worth $11,604,048. 1.10% of the stock is owned by insiders.
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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