Pioneer Investment Management Inc buys $286,627,381 stake in Analog Devices (ADI)

Analog Devices (ADI) : Pioneer Investment Management Inc scooped up 15,975 additional shares in Analog Devices during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 4,461,821 shares of Analog Devices which is valued at $286,627,381.Analog Devices makes up approximately 1.02% of Pioneer Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Cetera Advisors boosted its stake in ADI in the latest quarter, The investment management firm added 3,541 additional shares and now holds a total of 8,502 shares of Analog Devices which is valued at $546,168. Analog Devices makes up approx 0.04% of Cetera Advisors’s portfolio.Cadence Capital Management reduced its stake in ADI by selling 4,180 shares or 9.1% in the most recent quarter. The Hedge Fund company now holds 41,755 shares of ADI which is valued at $2,625,137. Analog Devices makes up approx 0.19% of Cadence Capital Management’s portfolio.Mutual Of America Capital Management reduced its stake in ADI by selling 9,299 shares or 16.41% in the most recent quarter. The Hedge Fund company now holds 47,375 shares of ADI which is valued at $2,978,466. Analog Devices makes up approx 0.06% of Mutual Of America Capital Management’s portfolio.Pillar Pacific Capital Management boosted its stake in ADI in the latest quarter, The investment management firm added 4,180 additional shares and now holds a total of 99,624 shares of Analog Devices which is valued at $6,263,361. Analog Devices makes up approx 1.01% of Pillar Pacific Capital Management’s portfolio.Signaturefd boosted its stake in ADI in the latest quarter, The investment management firm added 2,311 additional shares and now holds a total of 2,977 shares of Analog Devices which is valued at $190,022. Analog Devices makes up approx 0.03% of Signaturefd’s portfolio.

Analog Devices opened for trading at $63.92 and hit $64.58 on the upside on Friday, eventually ending the session at $64.14, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 19,65,377 shares. Company has a market cap of $19,721 M.

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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