Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by West Tower Group LLC

West Tower Group LLC boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 76.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the semiconductor company’s stock after buying an additional 1,300 shares during the period. Analog Devices accounts for about 1.5% of West Tower Group LLC’s portfolio, making the stock its 18th largest holding. West Tower Group LLC’s holdings in Analog Devices were worth $691,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ADI. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices in the third quarter worth about $28,000. New Millennium Group LLC purchased a new position in Analog Devices in the 2nd quarter worth approximately $29,000. Archer Investment Corp lifted its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC grew its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ADI shares. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Morgan Stanley boosted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $252.05.

Insider Activity

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,995 shares of company stock valued at $25,116,338. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

NASDAQ ADI opened at $223.58 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a market cap of $111.01 billion, a P/E ratio of 67.14, a P/E/G ratio of 3.02 and a beta of 1.08. The stock has a 50-day moving average of $224.88 and a two-hundred day moving average of $225.84. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14.

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.