Anchor Capital Advisors Lowers stake in Analog Devices (ADI)

Analog Devices (ADI) : Anchor Capital Advisors reduced its stake in Analog Devices by 2.18% during the most recent quarter end. The investment management company now holds a total of 815,259 shares of Analog Devices which is valued at $51,255,333 after selling 18,189 shares in Analog Devices , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Analog Devices makes up approximately 1.32% of Anchor Capital Advisors’s portfolio.

Other Hedge Funds, Including , Everence Capital Management Inc reduced its stake in ADI by selling 1,380 shares or 9.4% in the most recent quarter. The Hedge Fund company now holds 13,300 shares of ADI which is valued at $836,171. Analog Devices makes up approx 0.25% of Everence Capital Management Inc’s portfolio.Gofen Glossberg Il reduced its stake in ADI by selling 100 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 50,570 shares of ADI which is valued at $3,009,926. Analog Devices makes up approx 0.12% of Gofen Glossberg Il’s portfolio.Bank Of Stockton boosted its stake in ADI in the latest quarter, The investment management firm added 225 additional shares and now holds a total of 16,714 shares of Analog Devices which is valued at $965,066. Analog Devices makes up approx 0.51% of Bank Of Stockton’s portfolio.Daiwa Sb Investments Ltd. boosted its stake in ADI in the latest quarter, The investment management firm added 8,280 additional shares and now holds a total of 175,880 shares of Analog Devices which is valued at $10,155,311. Analog Devices makes up approx 2.91% of Daiwa Sb Investments Ltd.’s portfolio.

Analog Devices opened for trading at $63.07 and hit $63.39 on the upside on Thursday, eventually ending the session at $63.34, with a gain of 0.75% or 0.47 points. The heightened volatility saw the trading volume jump to 17,83,760 shares. Company has a market cap of $19,467 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. 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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