Aviance Capital Partners LLC Has $956,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Aviance Capital Partners LLC lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,154 shares of the semiconductor company’s stock after selling 396 shares during the quarter. Aviance Capital Partners LLC’s holdings in Analog Devices were worth $956,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the 3rd quarter worth $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the second quarter worth $29,000. Archer Investment Corp increased its holdings in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC lifted its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. Finally, CVA Family Office LLC boosted 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 worth $36,000 after buying an additional 45 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.4 %

Shares of ADI stock opened at $210.43 on Wednesday. Analog Devices, Inc. has a 52-week low of $179.44 and a 52-week high of $244.14. The stock has a market cap of $104.48 billion, a price-to-earnings ratio of 63.19, a PEG ratio of 2.89 and a beta of 1.08. The firm’s 50-day moving average is $225.53 and its 200-day moving average is $225.51. 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 (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company earned $2.49 earnings per share. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the 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 transaction, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s 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 of the company’s stock, valued at $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,495 shares of company stock worth $25,229,958. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of recent analyst reports. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.