Ashfield Capital Partners Lowers stake in Analog Devices (ADI)

Analog Devices (ADI) : Ashfield Capital Partners reduced its stake in Analog Devices by 11.37% during the most recent quarter end. The investment management company now holds a total of 363,747 shares of Analog Devices which is valued at $24,174,626 after selling 46,680 shares in Analog Devices , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Analog Devices makes up approximately 1.92% of Ashfield Capital Partners’s portfolio.

Other Hedge Funds, Including , Nuveen Fund Advisors boosted its stake in ADI in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 21,649 shares of Analog Devices which is valued at $1,414,113. Analog Devices makes up approx 0.20% of Nuveen Fund Advisors’s portfolio.New York State Teachers Retirement System reduced its stake in ADI by selling 21,145 shares or 4.06% in the most recent quarter. The Hedge Fund company now holds 499,914 shares of ADI which is valued at $32,119,475. Analog Devices makes up approx 0.09% of New York State Teachers Retirement System’s portfolio.Cibc Asset Management Inc reduced its stake in ADI by selling 2,849 shares or 6.71% in the most recent quarter. The Hedge Fund company now holds 39,634 shares of ADI which is valued at $2,462,857. Analog Devices makes up approx 0.02% of Cibc Asset Management Inc’s portfolio.Eastern Bank reduced its stake in ADI by selling 660 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 271,161 shares of ADI which is valued at $16,828,252. Analog Devices makes up approx 1.37% of Eastern Bank’s portfolio.

Analog Devices opened for trading at $67.92 and hit $68.58 on the upside on Monday, eventually ending the session at $68.47, with a gain of 0.38% or 0.26 points. The heightened volatility saw the trading volume jump to 15,80,079 shares. Company has a market cap of $21,053 M.

On the company’s financial health, Analog Devices reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.76. The company had revenue of $869.59 million for the quarter, compared to analysts expectations of $849.90 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

Many Wall Street Analysts have commented on Analog Devices. Analog Devices was Initiated by CLSA to “Outperform” on Oct 20, 2016. Company shares were Reiterated by Stifel on Sep 8, 2016 to “Buy”, Firm has raised the Price Target to $ 80 from a previous price target of $78 .

Analog Devices Inc. is engaged in the design manufacture and marketing of high-performance analog mixed-signal and digital signal processing integrated circuits (ICs). The Company is focused on solving the engineering challenges associated with signal processing in electronic equipment. The Company’s produces a wide range of products including data converters amplifiers and linear products radio frequency (RF) ICs power management products sensors based on micro-electro mechanical systems (MEMS) technology and other sensors and processing products including DSP and other processors that are designed to meet the needs of a broad base of customers. The Company focuses on strategic markets where its signal processing technology is often a critical differentiator in its customer’s products in the industrial automotive consumer and communications markets.

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