Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 16.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,385,992 shares of the semiconductor company’s stock after selling 676,212 shares during the quarter. Jennison Associates LLC owned about 0.68% of Analog Devices worth $779,354,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in Analog Devices in the 3rd quarter worth $28,000. New Millennium Group LLC purchased a new position in Analog Devices in the 2nd quarter worth $29,000. Archer Investment Corp raised its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. ORG Partners LLC raised its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial lowered 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 research note on Monday, September 23rd. Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Analog Devices from $260.00 to $280.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Trading Up 0.4 %

ADI stock opened at $210.43 on Wednesday. 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 12-month low of $179.44 and a 12-month high of $244.14. 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. The business’s 50-day moving average is $225.53 and its 200 day moving average is $225.51.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.49 EPS. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The trade was a 9.53 % 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 ninety days. Insiders own 0.31% of the company’s stock.

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.