Weaver C. Barksdale Associates Lowers stake in Analog Devices (ADI)

Analog Devices (ADI) : Weaver C. Barksdale Associates reduced its stake in Analog Devices by 9.93% during the most recent quarter end. The investment management company now holds a total of 13,676 shares of Analog Devices which is valued at $849,280 after selling 1,507 shares in Analog Devices , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Analog Devices makes up approximately 1.46% of Weaver C. Barksdale Associates’s portfolio.

Other Hedge Funds, Including , 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.Oregon Public Employees Retirement Fund reduced its stake in ADI by selling 14,556 shares or 31.33% in the most recent quarter. The Hedge Fund company now holds 31,899 shares of ADI which is valued at $2,020,802. Analog Devices makes up approx 0.04% of Oregon Public Employees Retirement Fund’s portfolio.Gofen Glossberg Il reduced its stake in ADI by selling 12 shares or 0.02% in the most recent quarter. The Hedge Fund company now holds 50,558 shares of ADI which is valued at $3,202,849. Analog Devices makes up approx 0.13% of Gofen Glossberg Il’s portfolio.Gradient Investments boosted its stake in ADI in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 77 shares of Analog Devices which is valued at $4,878.Bnp Paribas Arbitrage Sa boosted its stake in ADI in the latest quarter, The investment management firm added 16,411 additional shares and now holds a total of 132,285 shares of Analog Devices which is valued at $8,556,194. Analog Devices makes up approx 0.04% of Bnp Paribas Arbitrage Sa’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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