Nicolet Advisory Services LLC Grows Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Nicolet Advisory Services LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,382 shares of the semiconductor company’s stock after acquiring an additional 215 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Analog Devices were worth $1,219,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the second quarter worth $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 valued at $33,000 after buying an additional 73 shares during the last quarter. ORG Partners LLC increased its position 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 acquiring an additional 135 shares during the period. Finally, CVA Family Office LLC raised its stake in 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 acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

ADI opened at $214.59 on Friday. The company has a market cap of $106.54 billion, a price-to-earnings ratio of 64.44, a PEG ratio of 2.97 and a beta of 1.08. The firm’s fifty day simple moving average is $224.87 and its two-hundred day simple moving average is $225.40. 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 $179.63 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company posted $2.49 EPS. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. This trade represents a 16.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the business’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 transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 20.96 % 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. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADI. JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, Wells Fargo & Company started coverage on shares of Analog Devices in a report on Friday. They issued an “equal weight” rating and a $220.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.05.

Analog Devices Profile

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.