Private Trust Co. NA Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Private Trust Co. NA boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,448 shares of the semiconductor company’s stock after acquiring an additional 157 shares during the quarter. Private Trust Co. NA’s holdings in Analog Devices were worth $1,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Analog Devices during the 3rd quarter worth about $28,000. New Millennium Group LLC acquired a new stake in Analog Devices during the 2nd quarter worth $29,000. Archer Investment Corp boosted its stake in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares in 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 lifted its holdings 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 valued at $36,000 after purchasing an additional 45 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 approximately $4,921,334.21. This represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction 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 directly owns 3,753 shares of the company’s stock, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Analog Devices Stock Performance

ADI opened at $223.58 on Tuesday. 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 $111.01 billion, a P/E ratio of 67.14, a P/E/G ratio of 3.02 and a beta of 1.08. The stock’s 50 day simple moving average is $224.88 and its 200 day simple moving average is $225.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

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.