Analog Devices (ADI) : Eastern Bank reduced its stake in Analog Devices by 0.24% during the most recent quarter end. The investment management company now holds a total of 271,161 shares of Analog Devices which is valued at $16,828,252 after selling 660 shares in Analog Devices , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Analog Devices makes up approximately 1.37% of Eastern Bank’s portfolio.
Other Hedge Funds, Including , Howe Rusling Inc sold out all of its stake in ADI during the most recent quarter. The investment firm sold 209 shares of ADI which is valued $12,971.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in ADI in the latest quarter, The investment management firm added 1,050 additional shares and now holds a total of 74,611 shares of Analog Devices which is valued at $4,630,359. Analog Devices makes up approx 0.10% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio. Eagle Asset Management Inc added ADI to its portfolio by purchasing 27,695 company shares during the most recent quarter which is valued at $1,719,860. Analog Devices makes up approx 0.01% of Eagle Asset Management Inc’s portfolio.
Analog Devices opened for trading at $61.11 and hit $62.71 on the upside on Friday, eventually ending the session at $62.06, with a gain of 2.22% or 1.35 points. The heightened volatility saw the trading volume jump to 38,34,677 shares. Company has a market cap of $19,082 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. 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 Companys 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 customers products in the industrial automotive consumer and communications markets.