Primecap Management Co. CA Cuts Holdings in Analog Devices, Inc. $ADI

Primecap Management Co. CA decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,446,280 shares of the semiconductor company’s stock after selling 31,365 shares during the period. Primecap Management Co. CA’s holdings in Analog Devices were worth $820,284,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after purchasing an additional 529 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Analog Devices by 4.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 38,340 shares of the semiconductor company’s stock worth $7,732,000 after buying an additional 1,582 shares during the last quarter. Obermeyer Wealth Partners grew its holdings in shares of Analog Devices by 5.5% in the first quarter. Obermeyer Wealth Partners now owns 10,188 shares of the semiconductor company’s stock worth $2,055,000 after acquiring an additional 530 shares during the period. PFG Advisors increased its position in Analog Devices by 32.3% during the first quarter. PFG Advisors now owns 16,521 shares of the semiconductor company’s stock valued at $3,332,000 after acquiring an additional 4,032 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Analog Devices by 201.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 15,155 shares of the semiconductor company’s stock valued at $3,056,000 after acquiring an additional 10,126 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.1%

Shares of ADI opened at $230.13 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.79. The stock has a market capitalization of $113.21 billion, a price-to-earnings ratio of 58.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $258.13. The business’s 50 day simple moving average is $239.80 and its 200-day simple moving average is $234.36.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.10. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the business posted $1.58 earnings per share. Analog Devices’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Zacks Research cut shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Evercore ISI boosted their price objective on Analog Devices from $280.00 to $303.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Morgan Stanley lifted their target price on Analog Devices from $273.00 to $288.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Finally, KeyCorp boosted their price target on Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $277.89.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the sale, the director directly owned 5,118 shares in the company, valued at approximately $1,242,343.32. This represents a 16.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Martin Cotter sold 12,500 shares of Analog Devices stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $246.25, for a total value of $3,078,125.00. Following the completion of the transaction, the senior vice president owned 63,048 shares of the company’s stock, valued at approximately $15,525,570. This represents a 16.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 62,240 shares of company stock worth $15,301,891. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Company 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.