Primecap Management Co. CA Sells 24,160 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Primecap Management Co. CA lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,578,150 shares of the semiconductor company's stock after selling 24,160 shares during the period. Primecap Management Co. CA owned about 0.72% of Analog Devices worth $823,583,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the 3rd quarter valued at about $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at about $29,000. Archer Investment Corp lifted its stake in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares during the period. ORG Partners LLC lifted its stake in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 135 shares during the period. Finally, CVA Family Office LLC lifted its stake in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 45 shares during the period. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the firm's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares of the company's stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company's stock, valued at $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,495 shares of company stock valued at $25,229,958. Company insiders own 0.31% of the company's stock.

Analog Devices Stock Performance

ADI stock opened at $211.01 on Thursday. The firm has a market cap of $104.76 billion, a PE ratio of 63.37, a P/E/G ratio of 2.89 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $225.25 and a 200-day moving average of $225.41. Analog Devices, Inc. has a 12-month low of $179.44 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company earned $2.49 earnings per share. Analog Devices's revenue was down 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADI shares. Morgan Stanley boosted their price objective on Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Oppenheimer reaffirmed an "outperform" rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $249.80.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

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