Pacer Advisors Inc. Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Pacer Advisors Inc. raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 77,185 shares of the semiconductor company’s stock after acquiring an additional 8,184 shares during the period. Pacer Advisors Inc.’s holdings in Analog Devices were worth $17,766,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ADI. Capital Performance Advisors LLP purchased a new position in Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices in the second quarter worth approximately $29,000. Archer Investment Corp boosted its position in shares of Analog Devices by 101.4% in the third 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 grew its holdings in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. Finally, CVA Family Office LLC raised its stake in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 0.3 %

NASDAQ:ADI opened at $214.59 on Friday. The company has a market cap of $106.54 billion, a PE ratio of 64.44, a P/E/G ratio of 2.97 and a beta of 1.08. The business’s 50 day moving average is $224.87 and its two-hundred day moving average is $225.40. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced 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 firm 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%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the business posted $2.49 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ADI shares. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday. They set an “equal weight” rating and a $220.00 price objective for the company. JPMorgan Chase & Co. increased 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. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $252.05.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is currently owned by insiders.

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.