Aimz Investment Advisors Lowers stake in Analog Devices (ADI)

Analog Devices (ADI) : Aimz Investment Advisors reduced its stake in Analog Devices by 1.74% during the most recent quarter end. The investment management company now holds a total of 16,726 shares of Analog Devices which is valued at $1,074,478 after selling 296 shares in Analog Devices , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Analog Devices makes up approximately 0.95% of Aimz Investment Advisors’s portfolio.

Other Hedge Funds, Including , Moore Capital Management Lp sold out all of its stake in ADI during the most recent quarter. The investment firm sold 213,000 shares of ADI which is valued $13,683,120.Citadel Advisors boosted its stake in ADI in the latest quarter, The investment management firm added 3,436,763 additional shares and now holds a total of 3,856,530 shares of Analog Devices which is valued at $247,743,487. Analog Devices makes up approx 0.63% of Citadel Advisors’s portfolio.Riverhead Capital Management reduced its stake in ADI by selling 36,416 shares or 55.6% in the most recent quarter. The Hedge Fund company now holds 29,082 shares of ADI which is valued at $1,868,228. Analog Devices makes up approx 0.03% of Riverhead Capital Management’s portfolio. Gateway Advisory added ADI to its portfolio by purchasing 4,454 company shares during the most recent quarter which is valued at $280,023. Analog Devices makes up approx 0.11% of Gateway Advisory’s portfolio. Palisade Capital Managementnj sold out all of its stake in ADI during the most recent quarter. The investment firm sold 9,724 shares of ADI which is valued $611,348.

Analog Devices closed down -1.08 points or -1.72% at $61.65 with 2,215,593 shares getting traded on Wednesday. Post opening the session at $62.54, the shares hit an intraday low of $61.44 and an intraday high of $62.86 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Analog Devices reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.76. The company had revenue of $869.59 million for the quarter, compared to analysts expectations of $849.90 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

Many Wall Street Analysts have commented on Analog Devices. Company shares were Reiterated by Deutsche Bank on Jul 27, 2016 to “Hold”, Firm has raised the Price Target to $ 65 from a previous price target of $55 .Company shares were Reiterated by Barclays on Jul 27, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 64 from a previous price target of $55 .Company shares were Reiterated by MKM Partners on Jul 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 66 from a previous price target of $56 .

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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