Darwin Wealth Management LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Darwin Wealth Management LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,976 shares of the semiconductor company's stock, valued at approximately $3,447,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Swedbank AB bought a new position in shares of Analog Devices during the 1st quarter valued at approximately $537,171,000. Canada Pension Plan Investment Board raised its stake in shares of Analog Devices by 17,535,360.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock valued at $346,834,000 after acquiring an additional 1,753,536 shares during the period. Raymond James & Associates lifted its holdings in shares of Analog Devices by 153.6% in the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock worth $540,463,000 after acquiring an additional 1,422,054 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Analog Devices by 23,792.4% in the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock worth $2,043,000,000 after purchasing an additional 883,888 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADI has been the topic of several research analyst reports. Truist Financial downgraded Analog Devices from a "buy" rating to a "hold" rating and cut their price objective for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald reissued a "neutral" rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, August 22nd. Oppenheimer reissued an "outperform" rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. upped 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. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company's stock, valued at $1,078,935.52. This represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

ADI stock traded up $0.58 during trading on Wednesday, reaching $211.01. 3,072,397 shares of the stock were exchanged, compared to its average volume of 3,218,952. The company has a market capitalization of $104.76 billion, a P/E ratio of 62.93, a price-to-earnings-growth 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 twelve month low of $179.44 and a twelve month high of $244.14. The stock has a 50 day simple moving average of $225.53 and a 200-day simple moving average of $225.51.

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

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.