West Family Investments Inc. Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

West Family Investments Inc. grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 58.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,757 shares of the semiconductor company’s stock after acquiring an additional 647 shares during the quarter. West Family Investments Inc.’s holdings in Analog Devices were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the 3rd quarter worth $28,000. New Millennium Group LLC bought a new position in shares of Analog Devices during the 2nd quarter worth $29,000. Archer Investment Corp grew its stake in shares of Analog Devices by 101.4% during the 3rd 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 period. ORG Partners LLC boosted its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. Finally, CVA Family Office LLC boosted its stake in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley raised their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, 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. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $249.80.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The trade was a 9.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock valued at $25,229,958 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $210.43 on Wednesday. The stock has a market cap of $104.48 billion, a price-to-earnings ratio of 63.19, a P/E/G ratio of 2.89 and a beta of 1.08. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $179.44 and a 1-year high of $244.14. The stock’s 50-day moving average is $225.53 and its 200 day moving average is $225.51.

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

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.