Bahl & Gaynor Inc. Lowers Stock Position in Analog Devices, Inc. $ADI

Bahl & Gaynor Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 298,223 shares of the semiconductor company’s stock after selling 3,565 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.06% of Analog Devices worth $70,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 529 shares during the last quarter. Oak Thistle LLC bought a new position in Analog Devices in the 1st quarter valued at $298,000. AE Wealth Management LLC increased its position in shares of Analog Devices by 9.8% during the 1st quarter. AE Wealth Management LLC now owns 33,514 shares of the semiconductor company’s stock valued at $6,759,000 after purchasing an additional 2,986 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Analog Devices by 12.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 22,321 shares of the semiconductor company’s stock worth $4,501,000 after purchasing an additional 2,558 shares during the period. Finally, Advisor OS LLC boosted its holdings in shares of Analog Devices by 17.8% in the 1st quarter. Advisor OS LLC now owns 1,326 shares of the semiconductor company’s stock worth $267,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $232.32 on Friday. The firm’s 50 day moving average is $238.78 and its 200 day moving average is $234.53. The stock has a market capitalization of $114.29 billion, a P/E ratio of 59.27, a PEG ratio of 1.98 and a beta of 1.09. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $258.13. The company has a current ratio of 2.32, a quick ratio of 1.79 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.10. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.76 billion. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. Analog Devices’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 EPS. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Insider Buying and Selling

In other Analog Devices news, SVP Martin Cotter sold 12,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $246.25, for a total value of $3,078,125.00. Following the completion of the transaction, the senior vice president owned 63,048 shares in the company, valued at $15,525,570. This trade represents a 16.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $254.29, for a total value of $5,085,800.00. Following the sale, the chief executive officer owned 23,515 shares in the company, valued at approximately $5,979,629.35. This represents a 45.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,750 shares of company stock valued at $14,684,296 in the last ninety days. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ADI shares. Wells Fargo & Company raised their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, August 21st. Barclays increased their target price on shares of Analog Devices from $185.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Zacks Research downgraded Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Benchmark increased their price objective on Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.42.

Analog Devices Company 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.