Private Trust Co. NA Buys 157 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Private Trust Co. NA grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,448 shares of the semiconductor company’s stock after purchasing an additional 157 shares during the period. Private Trust Co. NA’s holdings in Analog Devices were worth $1,254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Baader Bank Aktiengesellschaft boosted its holdings in shares of Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after purchasing an additional 43 shares during the period. Grove Bank & Trust lifted its position in Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 43 shares during the last quarter. CVA Family Office LLC boosted its position in shares of 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 in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC grew its position in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Up 4.2 %

ADI stock opened at $223.58 on Tuesday. The business’s 50-day moving average is $224.88 and its 200 day moving average is $225.84. Analog Devices, Inc. has a 12-month low of $179.63 and a 12-month high of $244.14. The stock has a market cap of $111.01 billion, a price-to-earnings ratio of 67.14, a PEG ratio of 3.02 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.

Analysts Set New Price Targets

A number of brokerages have commented on ADI. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Wells Fargo & Company began coverage on shares of Analog Devices in a research report on Friday. They set an “equal weight” rating and a $220.00 target price for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.05.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. The trade was a 16.38 % decrease in their position. The sale 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 that occurred 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 completion of the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,995 shares of company stock valued at $25,116,338 over the last ninety days. Insiders own 0.31% of the company’s stock.

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.