First Pacific Advisors buys $316,105,692 stake in Analog Devices (ADI)

Analog Devices (ADI) : First Pacific Advisors scooped up 41,050 additional shares in Analog Devices during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 4,756,330 shares of Analog Devices which is valued at $316,105,692.Analog Devices makes up approximately 2.31% of First Pacific Advisors’s portfolio.

Other Hedge Funds, Including , Paradigm Asset Management Co sold out all of its stake in ADI during the most recent quarter. The investment firm sold 11,900 shares of ADI which is valued $790,874. Korea Investment Corp added ADI to its portfolio by purchasing 12,800 company shares during the most recent quarter which is valued at $831,616.Cubic Asset Management reduced its stake in ADI by selling 1,000 shares or 2.59% in the most recent quarter. The Hedge Fund company now holds 37,575 shares of ADI which is valued at $2,383,758. Analog Devices makes up approx 0.76% of Cubic Asset Management’s portfolio. Agf Investments added ADI to its portfolio by purchasing 373,415 company shares during the most recent quarter which is valued at $23,906,028. Analog Devices makes up approx 0.27% of Agf Investments’s portfolio.Gateway Investment Advisers reduced its stake in ADI by selling 8,910 shares or 2.46% in the most recent quarter. The Hedge Fund company now holds 352,727 shares of ADI which is valued at $22,581,583. Analog Devices makes up approx 0.20% of Gateway Investment Advisers’s portfolio.

Analog Devices opened for trading at $67.92 and hit $68.58 on the upside on Monday, eventually ending the session at $68.47, with a gain of 0.38% or 0.26 points. The heightened volatility saw the trading volume jump to 15,80,079 shares. Company has a market cap of $21,053 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. Analog Devices was Initiated by CLSA to “Outperform” on Oct 20, 2016. Company shares were Reiterated by Stifel on Sep 8, 2016 to “Buy”, Firm has raised the Price Target to $ 80 from a previous price target of $78 .

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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