West Tower Group LLC Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

West Tower Group LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 76.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the semiconductor company’s stock after buying an additional 1,300 shares during the quarter. Analog Devices makes up about 1.5% of West Tower Group LLC’s holdings, making the stock its 18th largest position. West Tower Group LLC’s holdings in Analog Devices were worth $691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft grew its holdings in Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 43 shares during the last quarter. Grove Bank & Trust lifted its position in shares of Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 43 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Legacy Financial Advisors Inc. increased its position in Analog Devices by 1.4% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC raised its stake in Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after purchasing an additional 48 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Morgan Stanley boosted their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company began coverage on Analog Devices in a research report on Friday. They issued an “equal weight” rating and a $220.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $252.05.

Insider Activity

In related news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 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 value of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,995 shares of company stock valued at $25,116,338. Company insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 4.2 %

Shares of ADI stock opened at $223.58 on Tuesday. 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 fifty-two week low of $179.63 and a fifty-two week high of $244.14. The firm’s 50 day moving average price is $224.88 and its two-hundred day moving average price is $225.84. The stock has a market cap of $111.01 billion, a price-to-earnings ratio of 67.14, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08.

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.