Conning Lowers stake in Analog Devices (ADI)

Analog Devices (ADI) : Conning reduced its stake in Analog Devices by 4.95% during the most recent quarter end. The investment management company now holds a total of 362,575 shares of Analog Devices which is valued at $22,961,875 after selling 18,870 shares in Analog Devices , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Analog Devices makes up approximately 0.95% of Conning’s portfolio.

Other Hedge Funds, Including , Confluence Investment Management boosted its stake in ADI in the latest quarter, The investment management firm added 12,815 additional shares and now holds a total of 165,264 shares of Analog Devices which is valued at $10,466,169. Analog Devices makes up approx 0.28% of Confluence Investment Management’s portfolio.New York State Teachers Retirement System reduced its stake in ADI by selling 251 shares or 0.05% in the most recent quarter. The Hedge Fund company now holds 521,059 shares of ADI which is valued at $31,471,964. Analog Devices makes up approx 0.08% of New York State Teachers Retirement System’s portfolio.Raymond James Trust N.a. boosted its stake in ADI in the latest quarter, The investment management firm added 353 additional shares and now holds a total of 60,821 shares of Analog Devices which is valued at $3,511,805. Analog Devices makes up approx 0.29% of Raymond James Trust N.a.’s portfolio.

Analog Devices closed down -0.39 points or -0.61% at $63.83 with 32,41,859 shares getting traded on Friday. Post opening the session at $64.2, the shares hit an intraday low of $63.5 and an intraday high of $64.435 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Analog Devices reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.62. The company had revenue of $778.80 million for the quarter, compared to analysts expectations of $777.65 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.73 EPS.

Many Wall Street Analysts have commented on Analog Devices. Company shares were Reiterated by Deutsche Bank on Jul 27, 2016 to “Hold”, Firm has raised the Price Target to $ 65 from a previous price target of $55 .Company shares were Reiterated by Barclays on Jul 27, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 64 from a previous price target of $55 .Company shares were Reiterated by MKM Partners on Jul 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 66 from a previous price target of $56 .

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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