MetLife Investment Management LLC Sells 3,247 Shares of Analog Devices, Inc. (NASDAQ:ADI)

MetLife Investment Management LLC decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 129,020 shares of the semiconductor company’s stock after selling 3,247 shares during the period. MetLife Investment Management LLC’s holdings in Analog Devices were worth $29,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares during the period. Glenmede Trust Co. NA increased its stake in Analog Devices by 2.8% in the third quarter. Glenmede Trust Co. NA now owns 21,315 shares of the semiconductor company’s stock valued at $4,906,000 after purchasing an additional 587 shares in the last quarter. Freedom Investment Management Inc. raised its holdings in Analog Devices by 15.7% in the third quarter. Freedom Investment Management Inc. now owns 2,218 shares of the semiconductor company’s stock worth $510,000 after purchasing an additional 301 shares during the period. Townsquare Capital LLC boosted its position in shares of Analog Devices by 23.4% during the third quarter. Townsquare Capital LLC now owns 12,838 shares of the semiconductor company’s stock worth $2,955,000 after purchasing an additional 2,431 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Analog Devices in the 3rd quarter valued at $1,347,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 1.3 %

ADI stock opened at $221.93 on Wednesday. Analog Devices, Inc. has a twelve month low of $179.63 and a twelve month high of $244.14. The company has a market cap of $110.19 billion, a price-to-earnings ratio of 65.78, a P/E/G ratio of 3.15 and a beta of 1.08. 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 business has a 50 day moving average price of $224.75 and a two-hundred day moving average price of $225.92.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Finally, Morgan Stanley lifted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note 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’s stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $251.55.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of Analog Devices 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 directly owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction 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 in the company, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,995 shares of company stock valued at $25,116,338. 0.31% of the stock is owned by corporate insiders.

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.