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

Bank of Montreal Can trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.3% during the third quarter, Holdings Channel.com reports. The firm owned 632,799 shares of the semiconductor company’s stock after selling 65,162 shares during the period. Bank of Montreal Can’s holdings in Analog Devices were worth $146,841,000 at the end of the most recent reporting period.

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

Analog Devices Price Performance

NASDAQ:ADI opened at $223.58 on Tuesday. Analog Devices, Inc. has a 52-week low of $179.63 and a 52-week high of $244.14. The company has a market cap 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 quick ratio of 1.24 and a current ratio of 1.69. The stock’s 50-day simple moving average is $224.88 and its 200 day simple moving average is $225.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $252.05.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares of the company’s stock, 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 sold a total of 110,995 shares of company stock worth $25,116,338 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

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.