Harvest Fund Management Co. Ltd Grows Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Harvest Fund Management Co. Ltd increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 47.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,870 shares of the semiconductor company’s stock after acquiring an additional 7,386 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Analog Devices were worth $5,264,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in Analog Devices during the 3rd quarter valued at about $28,000. New Millennium Group LLC bought a new stake in Analog Devices in the second quarter valued at $29,000. Archer Investment Corp increased its position in Analog Devices by 101.4% during the 3rd 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 period. ORG Partners LLC raised its holdings 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 purchasing an additional 135 shares in the last quarter. Finally, CVA Family Office LLC lifted its position 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 purchasing an additional 45 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. 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 research note on Thursday, August 22nd. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday. They set an “equal weight” rating and a $220.00 price objective for the company. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $252.05.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 shares were 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 $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,995 shares of company stock worth $25,116,338. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $214.59 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $179.63 and a 12 month high of $244.14. The stock has a market cap of $106.54 billion, a price-to-earnings ratio of 64.44, a PEG ratio of 3.01 and a beta of 1.08. The company’s 50 day moving average is $224.87 and its two-hundred day moving average is $225.70.

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.