Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,721 shares of the semiconductor company’s stock after selling 702 shares during the period. Pitcairn Co.’s holdings in Analog Devices were worth $856,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices during the 2nd quarter worth approximately $29,000. Archer Investment Corp raised its stake in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. Finally, CVA Family Office LLC raised its position in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Up 0.3 %

Shares of ADI stock opened at $214.59 on Monday. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The firm’s 50 day moving average price is $224.87 and its two-hundred day moving average price is $225.70. The stock has a market cap of $106.54 billion, a price-to-earnings ratio of 64.44, a price-to-earnings-growth ratio of 3.01 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.

Insider Buying and Selling at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The trade was a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock valued at $25,116,338 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADI. Morgan Stanley boosted 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. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

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.