Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,534,004 shares of the semiconductor company’s stock after selling 19,002 shares during the period. Analog Devices comprises about 0.7% of The Manufacturers Life Insurance Company’s holdings, making the stock its 24th largest position. The Manufacturers Life Insurance Company owned 0.71% of Analog Devices worth $813,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after purchasing an additional 700,862 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Analog Devices by 21.4% during the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after buying an additional 767,534 shares during the period. Legal & General Group Plc grew its holdings in shares of Analog Devices by 5.3% during the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after buying an additional 211,202 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Analog Devices by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock valued at $720,933,000 after acquiring an additional 171,893 shares during the period. Finally, Swedbank AB raised its stake in Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after acquiring an additional 180,870 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADI shares. Bank of America lowered their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley boosted their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $252.05.

Analog Devices Stock Up 4.2 %

ADI opened at $223.58 on Tuesday. The firm has a market cap of $111.01 billion, a P/E ratio of 67.14, a PEG ratio of 3.02 and a beta of 1.08. The business’s fifty day simple moving average is $224.88 and its 200 day simple moving average is $225.84. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on 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 directly owns 3,753 shares in the company, valued at $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,995 shares of company stock valued at $25,116,338 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.