Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 807.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 959,686 shares of the semiconductor company’s stock after buying an additional 853,931 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Analog Devices were worth $220,891,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after buying an additional 39,186 shares in the last quarter. Swiss National Bank lifted its holdings in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after buying an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after buying an additional 7,386 shares in the last quarter. Summit Global Investments bought a new stake in shares of Analog Devices in the 3rd quarter worth about $867,000. Finally, Versor Investments LP bought a new stake in shares of Analog Devices in the 3rd quarter worth about $952,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ADI shares. Truist Financial downgraded 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 research report on Monday, September 23rd. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.55.

Insider Buying and Selling at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This represents a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 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 transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock valued at $25,116,338 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 2.0 %

Analog Devices stock opened at $219.05 on Wednesday. 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 firm has a 50-day moving average price of $224.75 and a two-hundred day moving average price of $225.92. The firm has a market capitalization of $108.76 billion, a price-to-earnings ratio of 65.78, a PEG ratio of 3.15 and a beta of 1.08. Analog Devices, Inc. has a 52-week low of $179.63 and a 52-week high of $244.14.

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.