LMR Partners LLP Sells 47,906 Shares of Analog Devices, Inc. (NASDAQ:ADI)

LMR Partners LLP lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 91.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,586 shares of the semiconductor company's stock after selling 47,906 shares during the quarter. LMR Partners LLP's holdings in Analog Devices were worth $1,056,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ADI. Swedbank AB purchased a new position in shares of Analog Devices in the first quarter worth about $537,171,000. Canada Pension Plan Investment Board boosted its holdings in Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock worth $346,834,000 after buying an additional 1,753,536 shares during the period. Raymond James & Associates grew its stake in Analog Devices by 153.6% in the 3rd 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 in the last quarter. Price T Rowe Associates Inc. MD raised 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 acquiring an additional 1,330,242 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock worth $2,043,000,000 after acquiring an additional 883,888 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Trading Up 0.3 %

Shares of NASDAQ:ADI traded up $0.58 during trading on Wednesday, reaching $211.01. 3,072,397 shares of the company traded hands, compared to its average volume of 3,218,952. 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 52-week low of $179.44 and a 52-week high of $244.14. The firm has a market capitalization of $104.76 billion, a price-to-earnings ratio of 62.93, a P/E/G ratio of 2.89 and a beta of 1.08. The business's fifty day moving average is $225.53 and its 200-day moving average is $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, topping analysts' consensus estimates of $1.50 by $0.08. The business 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%. The company's revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. 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. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America cut their price objective on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Finally, Truist Financial lowered shares of Analog Devices from a "buy" rating to a "hold" rating and decreased their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $249.80.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 500 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were 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 directly owns 4,748 shares of the company's stock, valued at approximately $1,078,935.52. This trade represents a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock worth $25,229,958 in the last 90 days. Company insiders own 0.31% of the company's stock.

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.