Bank of Montreal Can Has $146.84 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Bank of Montreal Can cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 632,799 shares of the semiconductor company’s stock after selling 65,162 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of Analog Devices worth $146,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after acquiring an additional 39,186 shares during the last quarter. Swiss National Bank lifted its stake in shares of Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares during the last quarter. Summit Global Investments bought a new stake in Analog Devices in the third quarter worth $867,000. Versor Investments LP acquired a new position in Analog Devices during the third quarter worth $952,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after buying an additional 7,386 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADI shares. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday. They issued an “equal weight” rating and a $220.00 target price on the stock. Finally, Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.05.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was 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 directly owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,995 shares of company stock worth $25,116,338. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 4.2 %

ADI opened at $223.58 on Tuesday. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm’s fifty day moving average price is $224.88 and its two-hundred day moving average price is $225.84. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two 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.