Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by LPL Financial LLC

LPL Financial LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 426,673 shares of the semiconductor company’s stock after acquiring an additional 27,270 shares during the period. LPL Financial LLC’s holdings in Analog Devices were worth $98,207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Swiss National Bank raised its position in Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares during the period. Summit Global Investments acquired a new position in shares of Analog Devices during the 3rd quarter worth about $867,000. Versor Investments LP acquired a new position in shares of Analog Devices during the 3rd quarter worth about $952,000. Tidal Investments LLC lifted its stake in Analog Devices by 24.9% in the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after buying an additional 6,314 shares in the last quarter. Finally, BDF Gestion acquired a new stake in Analog Devices in the 2nd quarter worth about $4,491,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of several research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. 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 lowered shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday. They issued an “equal weight” rating and a $220.00 target price for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

Analog Devices Stock Performance

NASDAQ ADI opened at $214.59 on Friday. The company has a market cap of $106.54 billion, a P/E ratio of 64.44, a P/E/G ratio of 3.01 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14. 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 stock has a 50-day moving average of $224.87 and a two-hundred day moving average of $225.56.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.27 billion. During the same period in the prior year, the firm earned $2.49 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’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 transaction of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,995 shares of company stock worth $25,116,338 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

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.