Washington Trust Bank acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, Holdings Channel reports. The fund acquired 1,656 shares of the semiconductor company’s stock, valued at approximately $203,000.

Other hedge funds have also recently modified their holdings of the company. Stratos Wealth Partners LTD. grew its position in shares of Analog Devices by 13.8% during the 1st quarter. Stratos Wealth Partners LTD. now owns 6,160 shares of the semiconductor company’s stock valued at $552,000 after acquiring an additional 747 shares during the period. Private Trust Co. NA grew its position in shares of Analog Devices by 7.7% during the 2nd quarter. Private Trust Co. NA now owns 16,867 shares of the semiconductor company’s stock valued at $2,085,000 after acquiring an additional 1,208 shares during the period. Robecosam AG grew its position in shares of Analog Devices by 9.0% during the 2nd quarter. Robecosam AG now owns 449,000 shares of the semiconductor company’s stock valued at $55,065,000 after acquiring an additional 37,000 shares during the period. DNB Asset Management AS grew its position in shares of Analog Devices by 10.2% during the 2nd quarter. DNB Asset Management AS now owns 41,209 shares of the semiconductor company’s stock valued at $5,054,000 after acquiring an additional 3,820 shares during the period. Finally, J. W. Coons Advisors LLC bought a new position in shares of Analog Devices during the 1st quarter valued at approximately $325,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Shares of ADI traded down $1.45 during mid-day trading on Friday, hitting $114.85. 3,293,277 shares of the company traded hands, compared to its average volume of 3,826,893. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.92 and a current ratio of 1.30. The stock has a 50-day moving average price of $119.00 and a two-hundred day moving average price of $110.55. Analog Devices, Inc. has a 1 year low of $79.07 and a 1 year high of $127.39. The stock has a market cap of $42.31 billion, a price-to-earnings ratio of 38.54, a P/E/G ratio of 1.88 and a beta of 1.35.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.03. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. The firm’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 earnings per share. On average, analysts forecast that Analog Devices, Inc. will post 4.65 EPS for the current year.

In other news, SVP Steve Pietkiewicz sold 3,710 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $123.29, for a total value of $457,405.90. Also, Director Edward H. Frank sold 8,460 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $113.42, for a total transaction of $959,533.20. Following the completion of the transaction, the director now owns 19,775 shares in the company, valued at $2,242,880.50. The disclosure for this sale can be found here. Insiders sold 14,325 shares of company stock worth $1,661,769 in the last three months. Insiders own 0.42% of the company’s stock.

ADI has been the subject of a number of research reports. Barclays reduced their target price on shares of Analog Devices from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Credit Suisse Group increased their target price on shares of Analog Devices from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. Morgan Stanley raised their price objective on shares of Analog Devices from $101.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 16th. Deutsche Bank raised their price objective on shares of Analog Devices from $110.00 to $115.00 and gave the stock a “hold” rating in a report on Thursday, May 21st. Finally, Robert W. Baird cut their price objective on shares of Analog Devices from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and a consensus price target of $125.68.

Analog Devices Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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

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