Hilton Capital Management LLC Buys Shares of 21,286 Analog Devices, Inc. (NASDAQ:ADI)

Hilton Capital Management LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,286 shares of the semiconductor company's stock, valued at approximately $4,899,000.

Several other large investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft lifted its position 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 acquiring an additional 43 shares in the last quarter. 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 worth $333,000 after buying an additional 43 shares during the period. CVA Family Office LLC lifted its position in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock worth $36,000 after buying an additional 45 shares during the period. Legacy Financial Advisors Inc. lifted its position in Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock worth $795,000 after buying an additional 48 shares during the period. Finally, Quotient Wealth Partners LLC lifted its position in Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock worth $455,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ADI. Cantor Fitzgerald restated a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial downgraded Analog Devices from a "buy" rating to a "hold" rating and reduced their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Bank of America reduced their target price on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Morgan Stanley lifted their price target on Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $249.80.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 51,039 shares of the company's stock, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 500 shares of the business's 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 completion of the sale, the director now 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is owned by corporate insiders.

Analog Devices Trading Up 0.3 %

Shares of NASDAQ:ADI traded up $0.58 during mid-day trading on Wednesday, reaching $211.01. 2,988,110 shares of the company's stock were exchanged, compared to its average volume of 3,218,579. The firm has a market capitalization of $104.76 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 2.89 and a beta of 1.08. The business's fifty day moving average price is $225.53 and its 200-day moving average price is $225.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a twelve month low of $179.44 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued 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 return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the firm earned $2.49 earnings per share. The company's revenue was down 24.8% compared to the same quarter last year. On average, research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

About Analog Devices

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.