Wealthstreet Investment Advisors LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 2,000 shares of the semiconductor company’s stock, valued at approximately $211,000.
Other hedge funds have also added to or reduced their stakes in the company. Legacy Financial Advisors Inc. lifted its holdings in shares of Analog Devices by 9,766.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 296 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 293 shares in the last quarter. PRW Wealth Management LLC bought a new position in Analog Devices during the 4th quarter valued at $27,000. TCI Wealth Advisors Inc. lifted its stake in Analog Devices by 820.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 322 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 287 shares in the last quarter. Bruderman Asset Management LLC bought a new position in Analog Devices during the 4th quarter valued at $31,000. Finally, Liberty Wealth Management LLC bought a new position in Analog Devices during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 91.48% of the company’s stock.
ADI traded up $2.16 during trading hours on Tuesday, hitting $106.39. The stock had a trading volume of 69,398 shares, compared to its average volume of 2,811,349. Analog Devices, Inc. has a 1 year low of $76.62 and a 1 year high of $118.54. The firm has a market cap of $38.39 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.64 and a current ratio of 2.34.
A number of research firms have recently commented on ADI. BidaskClub cut Analog Devices from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of Analog Devices in a research note on Tuesday, April 30th. Zacks Investment Research cut Analog Devices from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Robert W. Baird reiterated a “buy” rating and set a $100.00 target price on shares of Analog Devices in a research note on Wednesday, February 20th. Finally, Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $106.00 target price on the stock. in a research note on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $105.67.
In related news, SVP Martin Cotter sold 680 shares of Analog Devices stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $109.62, for a total value of $74,541.60. Following the completion of the sale, the senior vice president now owns 173 shares of the company’s stock, valued at approximately $18,964.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Eileen Wynne sold 2,736 shares of Analog Devices stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $105.28, for a total value of $288,046.08. Following the transaction, the chief accounting officer now directly owns 4,888 shares of the company’s stock, valued at approximately $514,608.64. The disclosure for this sale can be found here. In the last three months, insiders sold 112,120 shares of company stock valued at $12,114,745. 0.50% of the stock is currently owned by insiders.
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Analog Devices Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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