Tompkins Financial Corp Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Tompkins Financial Corp reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 25.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408 shares of the semiconductor company’s stock after selling 141 shares during the period. Tompkins Financial Corp’s holdings in Analog Devices were worth $50,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ADI. BlackRock Inc. grew its stake in Analog Devices by 14.7% in the 1st quarter. BlackRock Inc. now owns 27,803,033 shares of the semiconductor company’s stock valued at $2,492,540,000 after acquiring an additional 3,571,383 shares during the period. Invesco Ltd. increased its position in shares of Analog Devices by 39.1% during the 1st quarter. Invesco Ltd. now owns 4,322,089 shares of the semiconductor company’s stock worth $387,476,000 after purchasing an additional 1,215,616 shares during the last quarter. Melvin Capital Management LP acquired a new position in Analog Devices in the first quarter valued at about $94,133,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Analog Devices by 47.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,106,497 shares of the semiconductor company’s stock worth $188,847,000 after buying an additional 678,856 shares during the period. Finally, Sound Shore Management Inc. CT acquired a new stake in shares of Analog Devices during the first quarter valued at about $59,537,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

ADI has been the subject of several research reports. Raymond James lifted their target price on shares of Analog Devices from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Bank of America reiterated a “buy” rating and issued a $145.00 price objective on shares of Analog Devices in a report on Tuesday, July 14th. Stifel Nicolaus raised their target price on Analog Devices from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Oppenheimer initiated coverage on shares of Analog Devices in a research note on Wednesday, June 10th. They set a “buy” rating and a $140.00 price target on the stock. Finally, Royal Bank of Canada lowered their price objective on shares of Analog Devices from $136.00 to $122.00 in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and an average price target of $125.68.

Analog Devices stock opened at $114.85 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.30 and a quick ratio of 0.92. Analog Devices, Inc. has a 12 month low of $79.07 and a 12 month high of $127.39. The company has a fifty day moving average price of $119.00 and a two-hundred day moving average price of $110.55. The company has a market cap of $42.31 billion, a PE ratio of 38.54, a P/E/G ratio of 1.88 and a beta of 1.35.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 4.65 earnings per share for the current year.

In other news, Director James Champy sold 2,155 shares of Analog Devices stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $113.61, for a total value of $244,829.55. Following the transaction, the director now owns 12,415 shares of the company’s stock, valued at approximately $1,410,468.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 8,460 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $113.42, for a total transaction of $959,533.20. Following the sale, the director now directly owns 19,775 shares of the company’s stock, valued at $2,242,880.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,325 shares of company stock worth $1,661,769. Company insiders own 0.42% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

Further Reading: Limitations of the P/E Growth ratio

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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