Portfolio Design Labs LLC Sells 7,667 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Portfolio Design Labs LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 48.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,301 shares of the semiconductor company's stock after selling 7,667 shares during the quarter. Portfolio Design Labs LLC's holdings in Analog Devices were worth $1,911,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Swedbank AB bought a new stake in shares of Analog Devices in the first quarter valued at approximately $537,171,000. Canada Pension Plan Investment Board raised its stake in Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock valued at $346,834,000 after purchasing an additional 1,753,536 shares during the last quarter. Raymond James & Associates boosted its holdings 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 purchasing an additional 1,422,054 shares during the period. Price T Rowe Associates Inc. MD grew its position in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Analog Devices by 23,792.4% during 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. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Up 0.3 %

Shares of ADI traded up $0.58 during midday trading on Wednesday, hitting $211.01. The stock had a trading volume of 3,072,397 shares, compared to its average volume of 3,218,952. The company has a 50 day simple moving average of $225.53 and a two-hundred day simple moving average of $225.51. Analog Devices, Inc. has a twelve month low of $179.44 and a twelve month high of $244.14. The firm has a market cap of $104.76 billion, a price-to-earnings ratio of 62.93, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data 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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter in the previous year, the company posted $2.49 earnings per share. The business's revenue was down 24.8% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ADI shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a "buy" rating to a "hold" rating and decreased their price target for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Morgan Stanley upped their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target 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. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $249.80.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were 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 directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company's stock in a transaction on 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 transaction, the executive vice president now owns 59,093 shares of the company's stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock worth $25,229,958 over the last three months. Corporate 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.