Telemark Asset Management LLC Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Telemark Asset Management LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 28.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 50,000 shares of the semiconductor company's stock after selling 20,000 shares during the quarter. Telemark Asset Management LLC's holdings in Analog Devices were worth $11,508,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Analog Devices during the 3rd quarter valued at $28,000. New Millennium Group LLC bought a new position in Analog Devices in the second quarter worth about $29,000. Archer Investment Corp lifted its holdings in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after buying an additional 73 shares during the period. ORG Partners LLC boosted its position in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. Finally, CVA Family Office LLC boosted its position in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company's stock, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,995 shares of company stock valued at $25,116,338. Corporate insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADI shares. Bank of America decreased their price objective on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Cantor Fitzgerald reissued a "neutral" rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday. They set an "equal weight" rating and a $220.00 target price for the company. Finally, Oppenheimer restated an "outperform" rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $248.38.

Analog Devices Stock Performance

NASDAQ ADI traded up $0.63 during trading hours on Friday, hitting $214.59. 2,695,211 shares of the company's stock traded hands, compared to its average volume of 3,213,659. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14. The firm has a market capitalization of $106.54 billion, a P/E ratio of 64.02, a P/E/G ratio of 2.97 and a beta of 1.08. The business's fifty day moving average price is $225.09 and its two-hundred day moving average price is $225.33.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.27 billion. During the same period in the prior year, the company posted $2.49 earnings per share. The company's revenue for the quarter was down 24.8% compared to the same quarter last year. Equities research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Profile

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.