Ashfield Capital Partners Lowers stake in Analog Devices (ADI)

Analog Devices (ADI) : Ashfield Capital Partners reduced its stake in Analog Devices by 10.91% during the most recent quarter end. The investment management company now holds a total of 410,427 shares of Analog Devices which is valued at $22.5 Million after selling 50,248 shares in Analog Devices , the firm said in a disclosure report filed with the SEC on May 13, 2016.Analog Devices makes up approximately 1.65% of Ashfield Capital Partners’s portfolio.

Other Hedge Funds, Including , Cleararc Capital Inc reduced its stake in ADI by selling 2,847 shares or 27.4% in the most recent quarter. The Hedge Fund company now holds 7,545 shares of ADI which is valued at $412,862. Analog Devices makes up approx 0.09% of Cleararc Capital Inc’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in ADI in the latest quarter, The investment management firm added 35,065 additional shares and now holds a total of 58,139 shares of Analog Devices which is valued at $3.2 Million. Analog Devices makes up approx 0.10% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Columbia Partners L L C Investment Management boosted its stake in ADI in the latest quarter, The investment management firm added 1,132 additional shares and now holds a total of 18,688 shares of Analog Devices which is valued at $1 Million. Analog Devices makes up approx 0.07% of Columbia Partners L L C Investment Management’s portfolio. New Jersey Better Educational Savings Trust sold out all of its stake in ADI during the most recent quarter. The investment firm sold 7,000 shares of ADI which is valued $394,240.

Analog Devices opened for trading at $57.95 and hit $58.39 on the upside on Wednesday, eventually ending the session at $58.27, with a gain of 0.09% or 0.05 points. The heightened volatility saw the trading volume jump to 14,47,707 shares. Company has a market cap of $17,909 M.

On the company’s financial health, Analog Devices reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.62. The company had revenue of $778.80 million for the quarter, compared to analysts expectations of $777.65 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.73 EPS.

Many Wall Street Analysts have commented on Analog Devices. Analog Devices was Downgraded by Raymond James to ” Outperform” on Apr 19, 2016. Drexel Hamilton Initiated Analog Devices on Mar 2, 2016 to “Buy”, Price Target of the shares are set at $62.

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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