Ontario Teachers Pension Plan Board Sells 2,200 Shares of Analog Devices, Inc. (NASDAQ:ADI)

by · The Markets Daily

Ontario Teachers Pension Plan Board decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 70.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 901 shares of the semiconductor company’s stock after selling 2,200 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Analog Devices were worth $207,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Baader Bank Aktiengesellschaft raised its stake in shares of 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 in the last quarter. Grove Bank & Trust boosted its holdings in Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares in the last quarter. CVA Family Office LLC grew 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 purchasing an additional 45 shares during the period. Legacy Financial Advisors Inc. raised 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 in the last quarter. Finally, Quotient Wealth Partners LLC lifted its position in shares of Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 0.3 %

Shares of NASDAQ ADI opened at $214.59 on Friday. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The firm has a market capitalization of $106.54 billion, a P/E ratio of 64.44, a P/E/G ratio of 2.97 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 company’s 50 day simple moving average is $224.87 and its 200 day simple moving average is $225.40.

Analog Devices (NASDAQ:ADI – Get Free Report) last posted its quarterly 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business posted $2.49 EPS. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. On average, analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday. They set an “equal weight” rating and a $220.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $252.05.

Check Out Our Latest Analysis on Analog Devices

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction 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 transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,995 shares of company stock valued at $25,116,338. 0.31% of the stock is currently owned by company insiders.

Analog Devices Company Profile

(Free Report)

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.

See Also

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