Summit Trail Advisors LLC Has $1.73 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Summit Trail Advisors LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 62.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,523 shares of the semiconductor company’s stock after purchasing an additional 2,885 shares during the quarter. Summit Trail Advisors LLC’s holdings in Analog Devices were worth $1,732,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADI. Paloma Partners Management Co increased its stake in shares of Analog Devices by 483.3% during the 1st quarter. Paloma Partners Management Co now owns 1,518 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 1,914 shares during the last quarter. Interval Partners LP bought a new position in shares of Analog Devices during the 1st quarter worth $1,978,000. B. Riley Wealth Advisors Inc. raised its stake in Analog Devices by 19.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 11,619 shares of the semiconductor company’s stock valued at $2,298,000 after acquiring an additional 1,893 shares during the period. California State Teachers Retirement System boosted its position in Analog Devices by 0.7% during the first quarter. California State Teachers Retirement System now owns 814,293 shares of the semiconductor company’s stock worth $161,059,000 after purchasing an additional 5,448 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Analog Devices by 24.9% in the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after purchasing an additional 6,314 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

NASDAQ:ADI opened at $214.59 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The business has a 50 day moving average price of $224.87 and a 200-day moving average price of $225.70. The firm has a market cap of $106.54 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08.

Analyst Ratings Changes

A number of brokerages have issued reports on ADI. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial downgraded 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 note on Monday, September 23rd. 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 restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.05.

Insider Buying and Selling at Analog Devices

In related 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 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 $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock valued at $25,116,338 in the last quarter. 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.