Handelsbanken Fonder AB Reduces Position in Analog Devices, Inc. $ADI

Handelsbanken Fonder AB trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 232,579 shares of the semiconductor company’s stock after selling 2,157 shares during the quarter. Handelsbanken Fonder AB’s holdings in Analog Devices were worth $55,358,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADI. Activest Wealth Management grew its stake in shares of Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. RMG Wealth Management LLC purchased a new position in Analog Devices during the 2nd quarter valued at $26,000. N.E.W. Advisory Services LLC bought a new position in Analog Devices in the 1st quarter valued at $33,000. Saudi Central Bank purchased a new stake in Analog Devices in the first quarter worth $39,000. Finally, Nova Wealth Management Inc. purchased a new stake in Analog Devices in the first quarter worth $42,000. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the sale, the chief executive officer directly owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $242.74, for a total value of $242,740.00. Following the sale, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 59,750 shares of company stock valued at $14,684,296. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Down 3.0%

Shares of NASDAQ:ADI opened at $225.20 on Friday. The business’s fifty day simple moving average is $239.04 and its 200-day simple moving average is $234.29. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $258.13. The company has a current ratio of 2.32, a quick ratio of 1.79 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $110.79 billion, a PE ratio of 57.45, a P/E/G ratio of 1.98 and a beta of 1.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 20th. The semiconductor company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.95 by $0.10. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.76 billion. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BNP Paribas started coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price for the company. Piper Sandler boosted their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Benchmark boosted their price objective on shares of Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Barclays raised their target price on shares of Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.89.

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.