Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 42.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,274 shares of the semiconductor company’s stock after acquiring an additional 2,169 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Analog Devices were worth $1,674,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Swedbank AB acquired a new position in Analog Devices during the first quarter worth $537,171,000. Canada Pension Plan Investment Board boosted its holdings in Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after acquiring an additional 1,753,536 shares during the period. Raymond James & Associates boosted its holdings in Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after acquiring an additional 1,422,054 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after purchasing an additional 883,888 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 0.4 %

ADI opened at $210.43 on Wednesday. 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. The business’s 50 day moving average is $225.53 and its two-hundred day moving average is $225.51. The firm has a market cap of $104.48 billion, a price-to-earnings ratio of 63.19, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.49 EPS. On average, research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,495 shares of company stock valued at $25,229,958. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ADI shares. Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Bank of America reduced their price objective 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. Morgan Stanley boosted their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

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.