Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 807.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 959,686 shares of the semiconductor company’s stock after buying an additional 853,931 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.19% of Analog Devices worth $220,891,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ADI. Capital Performance Advisors LLP purchased 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 second quarter worth about $29,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC grew its holdings in shares of Analog Devices by 675.0% during the second 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 holdings in shares of Analog Devices by 40.2% during the second 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 last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 2.0 %

Shares of ADI opened at $219.05 on Wednesday. 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 firm has a 50 day simple moving average of $224.75 and a 200-day simple moving average of $225.92. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14. The stock has a market cap of $108.76 billion, a price-to-earnings ratio of 65.78, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08.

Wall Street Analyst Weigh In

ADI has been the subject of several recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. TD Cowen decreased their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.55.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices 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 completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,995 shares of company stock valued at $25,116,338. Company 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.