Advisors Asset Management Inc. Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

Advisors Asset Management Inc. lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 23.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,776 shares of the semiconductor company’s stock after selling 2,721 shares during the quarter. Advisors Asset Management Inc.’s holdings in Analog Devices were worth $2,020,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ADI shares. Morgan Stanley upped their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday. They issued an “equal weight” rating and a $220.00 target price for the company. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research 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 research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $252.05.

Analog Devices Price Performance

Shares of ADI stock opened at $214.59 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The firm has a market cap of $106.54 billion, a P/E ratio of 64.44, a P/E/G ratio of 3.01 and a beta of 1.08. The business’s 50 day moving average price is $224.87 and its 200-day moving average price is $225.70.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 20.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,995 shares of company stock worth $25,116,338 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

About Analog Devices

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.