StoneX Group Inc. Acquires New Holdings in Analog Devices, Inc. (NASDAQ:ADI)

StoneX Group Inc. bought a new position in Analog Devices, Inc. (NASDAQ:ADI) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,662 shares of the semiconductor company’s stock, valued at approximately $2,454,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB bought a new stake in Analog Devices during the 1st quarter worth approximately $537,171,000. Raymond James & Associates boosted its holdings in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after buying an additional 1,422,054 shares during the period. International Assets Investment Management LLC increased its position in shares of Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after acquiring an additional 883,888 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Analog Devices by 21.4% during the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after acquiring an additional 767,534 shares during the period. Finally, Van ECK Associates Corp lifted its position in Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after acquiring an additional 700,862 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’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 transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,995 shares of company stock valued at $25,116,338. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

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 stock has a market cap of $106.54 billion, a price-to-earnings ratio of 64.44, a PEG ratio of 3.01 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. The business has a 50 day moving average of $224.87 and a 200-day moving average of $225.56.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADI shares. JPMorgan Chase & Co. increased their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday. They issued an “equal weight” rating and a $220.00 target price on the stock. Morgan Stanley raised their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Bank of America cut their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

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.