Analog Devices, Inc. (NASDAQ:ADI) Stake Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the third quarter, HoldingsChannel reports. The firm owned 149,813 shares of the semiconductor company’s stock after purchasing an additional 5,562 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Analog Devices were worth $34,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Analog Devices during the third quarter valued at $16,441,000. Banque Cantonale Vaudoise lifted its position in Analog Devices by 259.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 20,131 shares of the semiconductor company’s stock valued at $4,634,000 after purchasing an additional 14,534 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Analog Devices by 42.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,274 shares of the semiconductor company’s stock valued at $1,674,000 after purchasing an additional 2,169 shares during the period. Prospera Financial Services Inc grew its position in Analog Devices by 8.8% in the 3rd quarter. Prospera Financial Services Inc now owns 41,825 shares of the semiconductor company’s stock worth $9,629,000 after purchasing an additional 3,395 shares during the last quarter. Finally, Verity & Verity LLC acquired a new stake in shares of Analog Devices in the third quarter valued at approximately $285,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The shares were 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 in the company, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America decreased their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Morgan Stanley raised their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, 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. Six equities research 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.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Up 0.3 %

Shares of Analog Devices stock opened at $211.01 on Thursday. Analog Devices, Inc. has a 12-month low of $179.44 and a 12-month high of $244.14. The firm has a market capitalization of $104.76 billion, a PE ratio of 63.37, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $225.25 and its 200-day moving average is $225.41.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The business’s revenue for the quarter 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 year.

Analog Devices Company 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.