CFS Investment Advisory Services LLC Acquires Shares of 2,869 Analog Devices, Inc. (NASDAQ:ADI)

CFS Investment Advisory Services LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,869 shares of the semiconductor company's stock, valued at approximately $660,000.

A number of other large investors have also recently made changes to their positions in ADI. Swedbank AB purchased a new stake in shares of Analog Devices during the first quarter valued at $537,171,000. Raymond James & Associates grew its holdings in shares of Analog Devices by 153.6% during 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 last quarter. International Assets Investment Management LLC boosted its holdings in Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock valued at $2,043,000,000 after purchasing an additional 883,888 shares during the last quarter. American Century Companies Inc. boosted its holdings in Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company's stock valued at $993,293,000 after purchasing an additional 767,534 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

ADI stock traded up $0.63 during mid-day trading on Friday, reaching $214.59. The company's stock had a trading volume of 2,695,385 shares, compared to its average volume of 3,063,621. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company's 50 day moving average is $224.87 and its two-hundred day moving average is $225.56. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The stock has a market cap of $106.54 billion, a PE ratio of 64.44, a P/E/G ratio of 3.01 and a beta of 1.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices's revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. Equities research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analysts Set New Price Targets

ADI has been the topic of several recent research reports. Bank of America lowered their price target 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. upped 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley upped their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Analog Devices from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $252.05.

Insider Buying and Selling at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 995 shares of the business's stock in a transaction dated Thursday, August 29th. The stock was 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. This represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,995 shares of company stock valued at $25,116,338 over the last quarter. 0.31% of the stock is owned by company insiders.

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.