Banque Cantonale Vaudoise Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Banque Cantonale Vaudoise increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 259.7% during the third quarter, Holdings Channel reports. The firm owned 20,131 shares of the semiconductor company’s stock after acquiring an additional 14,534 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Analog Devices were worth $4,634,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC lifted its stake in Analog Devices by 42.5% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,274 shares of the semiconductor company’s stock worth $1,674,000 after purchasing an additional 2,169 shares in the last quarter. Prospera Financial Services Inc increased its holdings in shares of Analog Devices by 8.8% in the third quarter. Prospera Financial Services Inc now owns 41,825 shares of the semiconductor company’s stock worth $9,629,000 after purchasing an additional 3,395 shares during the last quarter. Verity & Verity LLC purchased a new stake in shares of Analog Devices in the third quarter worth about $285,000. Pathstone Holdings LLC boosted its stake in Analog Devices by 1.5% during the third quarter. Pathstone Holdings LLC now owns 71,981 shares of the semiconductor company’s stock valued at $16,568,000 after buying an additional 1,050 shares during the last quarter. Finally, GLOBALT Investments LLC GA grew its holdings in Analog Devices by 30.5% during the 3rd quarter. GLOBALT Investments LLC GA now owns 32,094 shares of the semiconductor company’s stock valued at $7,387,000 after buying an additional 7,498 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America cut their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley raised their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. 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. Finally, Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,078,935.52. This trade represents a 9.53 % decrease in their ownership of the stock. 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 currently owned by insiders.

Analog Devices Trading Up 0.4 %

Shares of ADI stock opened at $210.43 on Wednesday. The company’s 50-day moving average price is $225.53 and its 200-day moving average price is $225.51. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market cap of $104.48 billion, a price-to-earnings ratio of 63.19, a PEG ratio of 2.89 and a beta of 1.08. Analog Devices, Inc. has a twelve month low of $179.44 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

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.