Analog Devices, Inc. (NASDAQ:ADI) Holdings Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 77,185 shares of the semiconductor company’s stock after purchasing an additional 8,184 shares during the quarter. Pacer Advisors Inc.’s holdings in Analog Devices were worth $17,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baader Bank Aktiengesellschaft raised its holdings in shares of Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after purchasing an additional 43 shares in the last quarter. Grove Bank & Trust boosted its position in Analog Devices by 3.1% during the third 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 grew its holdings in Analog Devices by 40.2% during the second 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 last quarter. Legacy Financial Advisors Inc. raised its position in shares of Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 48 shares during the period. Finally, Quotient Wealth Partners LLC lifted its stake in shares of Analog Devices by 2.5% in the third 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 last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Up 0.3 %

Shares of ADI opened at $214.59 on Friday. 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 company has a 50-day moving average price of $224.87 and a two-hundred day moving average price of $225.40. The stock has a market cap of $106.54 billion, a price-to-earnings ratio of 64.44, a P/E/G ratio of 2.97 and a beta of 1.08. Analog Devices, Inc. has a 12 month low of $179.63 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.49 EPS. Equities analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ADI shares. 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. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Wells Fargo & Company began coverage on Analog Devices in a research note on Friday. They issued an “equal weight” rating and a $220.00 price objective on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.05.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,995 shares of company stock worth $25,116,338 over the last three months. Company insiders own 0.31% of the company’s stock.

Analog Devices Company 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.