Advisors Asset Management Inc. Sells 2,721 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Advisors Asset Management Inc. trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 23.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,776 shares of the semiconductor company’s stock after selling 2,721 shares during the quarter. Advisors Asset Management Inc.’s holdings in Analog Devices were worth $2,020,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Swiss National Bank boosted its stake in shares of Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after buying an additional 4,600 shares during the last quarter. Summit Global Investments bought a new stake in shares of Analog Devices during the 3rd quarter valued at about $867,000. Versor Investments LP bought a new stake in shares of Analog Devices during the 3rd quarter valued at about $952,000. Tidal Investments LLC increased its position in shares of Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after purchasing an additional 6,314 shares during the last quarter. Finally, BDF Gestion bought a new position in shares of Analog Devices in the 2nd quarter worth approximately $4,491,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $214.59 on Monday. The firm’s fifty day moving average is $224.87 and its two-hundred day moving average is $225.70. Analog Devices, Inc. has a 52-week low of $179.63 and a 52-week high of $244.14. The company has a market cap of $106.54 billion, a P/E ratio of 64.44, a P/E/G ratio of 3.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,995 shares of company stock valued at $25,116,338. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

ADI has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday. They issued an “equal weight” rating and a $220.00 price objective for the company. Morgan Stanley lifted their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Bank of America reduced their price target on 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, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

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.