Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,382 shares of the semiconductor company’s stock after purchasing 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 quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the 3rd quarter worth $28,000. New Millennium Group LLC acquired a new position in Analog Devices in the second quarter valued at about $29,000. Archer Investment Corp boosted its stake in 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 buying an additional 73 shares during the period. ORG Partners LLC increased its position 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 valued at $35,000 after acquiring an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its stake 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 acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADI. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday. They issued an “equal weight” rating and a $220.00 target price for the company. Finally, Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.05.

Insider Buying and Selling at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. This represents a 20.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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 Price Performance

ADI stock opened at $214.59 on Friday. The business has a 50 day moving average price of $224.87 and a 200 day moving average price of $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. The stock 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. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the business posted $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

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.