Venturi Wealth Management buys $4.7 Million stake in Analog Devices (ADI)

Analog Devices (ADI) : Venturi Wealth Management scooped up 17,560 additional shares in Analog Devices during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 85,672 shares of Analog Devices which is valued at $4.7 Million.Analog Devices makes up approximately 1.74% of Venturi Wealth Management’s portfolio.

Other Hedge Funds, Including , Rafferty Asset Management boosted its stake in ADI in the latest quarter, The investment management firm added 12,369 additional shares and now holds a total of 31,740 shares of Analog Devices which is valued at $1.7 Million. Analog Devices makes up approx 0.09% of Rafferty Asset Management’s portfolio.Fdo Partners reduced its stake in ADI by selling 15,327 shares or 77.9% in the most recent quarter. The Hedge Fund company now holds 4,348 shares of ADI which is valued at $237,923. Analog Devices makes up approx 0.15% of Fdo Partners’s portfolio.Janney Montgomery Scott boosted its stake in ADI in the latest quarter, The investment management firm added 790 additional shares and now holds a total of 4,847 shares of Analog Devices which is valued at $265,228. Analog Devices makes up approx 0.01% of Janney Montgomery Scott’s portfolio.Anchor Capital Advisors reduced its stake in ADI by selling 241,424 shares or 22.46% in the most recent quarter. The Hedge Fund company now holds 833,448 shares of ADI which is valued at $45.6 Million. Analog Devices makes up approx 1.16% of Anchor Capital Advisors’s portfolio. Montag A Associates Inc added ADI to its portfolio by purchasing 5,706 company shares during the most recent quarter which is valued at $316,512. Analog Devices makes up approx 0.04% of Montag A Associates Inc’s portfolio.

Analog Devices opened for trading at $56.01 and hit $57.1 on the upside on Friday, eventually ending the session at $56.54, with a gain of 1.51% or 0.84 points. The heightened volatility saw the trading volume jump to 19,28,902 shares. Company has a market cap of $17,377,569 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.

Investors should note that on May 18, 2016, Analog Devices announced a cash dividend of $0.4200. The company’s management has announced May 25, 2016 as the ex-dividend date and fixed the record date on May 27, 2016. The payable date has been fixed on Jun 7, 2016.

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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