Strategy Asset Managers LLC Sells 199 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Strategy Asset Managers LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,653 shares of the semiconductor company’s stock after selling 199 shares during the quarter. Strategy Asset Managers LLC’s holdings in Analog Devices were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADI. West Family Investments Inc. raised its position in Analog Devices by 58.3% during the third quarter. West Family Investments Inc. now owns 1,757 shares of the semiconductor company’s stock valued at $404,000 after purchasing an additional 647 shares during the period. PNC Financial Services Group Inc. grew its position in Analog Devices by 3.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 149,813 shares of the semiconductor company’s stock valued at $34,482,000 after acquiring an additional 5,562 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Analog Devices in the 3rd quarter valued at $16,441,000. Banque Cantonale Vaudoise lifted its position in shares of Analog Devices by 259.7% during the third quarter. Banque Cantonale Vaudoise now owns 20,131 shares of the semiconductor company’s stock worth $4,634,000 after purchasing an additional 14,534 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Analog Devices by 42.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,274 shares of the semiconductor company’s stock valued at $1,674,000 after purchasing an additional 2,169 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Morgan Stanley increased their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Bank of America decreased their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $211.01 on Thursday. The company has a 50 day moving average price of $225.25 and a 200 day moving average price of $225.41. The firm has a market capitalization of $104.76 billion, a P/E ratio of 63.37, a PEG ratio of 2.89 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $179.44 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the company posted $2.49 earnings per share. The business’s quarterly revenue was down 24.8% on a year-over-year basis. Sell-side analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock worth $25,229,958 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.