Daiwa Sb Investments Ltd. Lowers stake in Analog Devices (ADI)

Analog Devices (ADI) : Daiwa Sb Investments Ltd. reduced its stake in Analog Devices by 16.26% during the most recent quarter end. The investment management company now holds a total of 147,290 shares of Analog Devices which is valued at $9,146,709 after selling 28,590 shares in Analog Devices , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Analog Devices makes up approximately 2.40% of Daiwa Sb Investments Ltd.’s portfolio.

Other Hedge Funds, Including , Weaver C. Barksdale Associates reduced its stake in ADI by selling 1,507 shares or 9.93% in the most recent quarter. The Hedge Fund company now holds 13,676 shares of ADI which is valued at $849,280. Analog Devices makes up approx 1.46% of Weaver C. Barksdale Associates’s portfolio. Cutler Group Lp sold out all of its stake in ADI during the most recent quarter. The investment firm sold 5,426 shares of ADI which is valued $343,737.Central Bank Trust Co reduced its stake in ADI by selling 2,139 shares or 19.1% in the most recent quarter. The Hedge Fund company now holds 9,061 shares of ADI which is valued at $583,710. Analog Devices makes up approx 0.17% of Central Bank Trust Co’s portfolio. New England Research Management sold out all of its stake in ADI during the most recent quarter. The investment firm sold 20,000 shares of ADI which is valued $1,293,600.Chevy Chase Trust Holdings reduced its stake in ADI by selling 5,710 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 257,325 shares of ADI which is valued at $16,643,781. Analog Devices makes up approx 0.09% of Chevy Chase Trust Holdings’s portfolio.

Analog Devices closed down -1.25 points or -1.97% at $62.1 with 35,33,134 shares getting traded on Tuesday. Post opening the session at $63.31, the shares hit an intraday low of $61.64 and an intraday high of $63.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. 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 .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 .

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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