Strategy Asset Managers LLC Sells 199 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Strategy Asset Managers LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,653 shares of the semiconductor company’s stock after selling 199 shares during the period. Strategy Asset Managers LLC’s holdings in Analog Devices were worth $380,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft increased its position in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after acquiring an additional 43 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after purchasing an additional 43 shares during the period. CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after buying an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC grew its position in Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after buying an additional 48 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of the firm’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 completion of the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,495 shares of company stock worth $25,229,958. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 0.3 %

Shares of NASDAQ:ADI opened at $211.01 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a one year low of $179.44 and a one year high of $244.14. The company has a market cap of $104.76 billion, a price-to-earnings ratio of 63.37, a PEG ratio of 2.89 and a beta of 1.08. The firm has a fifty day moving average price of $225.25 and a two-hundred day moving average price of $225.41.

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, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the firm posted $2.49 earnings per share. Analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Cantor Fitzgerald reiterated 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 report on Thursday, August 22nd. Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

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.