Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Lathrop Investment Management Corp

Lathrop Investment Management Corp lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,919 shares of the semiconductor company’s stock after selling 2,064 shares during the quarter. Analog Devices accounts for approximately 3.3% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 8th biggest holding. Lathrop Investment Management Corp’s holdings in Analog Devices were worth $17,935,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC bought a new stake in shares of Analog Devices in the 2nd quarter worth approximately $29,000. Archer Investment Corp raised its holdings 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 worth $33,000 after purchasing an additional 73 shares during the period. ORG Partners LLC raised its holdings 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 worth $35,000 after purchasing an additional 135 shares during the period. Finally, CVA Family Office LLC raised its holdings 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 worth $36,000 after purchasing an additional 45 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred 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 owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,995 shares of company stock valued at $25,116,338 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Analog Devices Price Performance

NASDAQ ADI opened at $213.36 on Friday. The stock has a 50-day moving average of $225.09 and a 200 day moving average of $225.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market capitalization of $105.93 billion, a price-to-earnings ratio of 64.07, a PEG ratio of 2.97 and a beta of 1.08. Analog Devices, Inc. has a one year low of $179.63 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company earned $2.49 earnings per share. Analog Devices’s revenue was down 24.8% on a year-over-year basis. On average, sell-side analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADI shares. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.