Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,534,004 shares of the semiconductor company’s stock after selling 19,002 shares during the period. Analog Devices makes up approximately 0.7% of The Manufacturers Life Insurance Company’s holdings, making the stock its 24th biggest holding. The Manufacturers Life Insurance Company’s holdings in Analog Devices were worth $813,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the third quarter worth $28,000. New Millennium Group LLC purchased a new position in Analog Devices in the 2nd quarter valued at about $29,000. Archer Investment Corp increased its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Finally, CVA Family Office LLC boosted its holdings in Analog Devices by 40.2% in 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. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.05.

Analog Devices Stock Performance

Shares of ADI stock opened at $223.58 on Tuesday. Analog Devices, Inc. has a 12-month low of $179.63 and a 12-month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market capitalization of $111.01 billion, a price-to-earnings ratio of 67.14, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08. The business has a 50 day simple moving average of $224.88 and a 200 day simple moving average of $225.84.

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.