Avestar Capital LLC Buys 281 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Avestar Capital LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,781 shares of the semiconductor company’s stock after acquiring an additional 281 shares during the period. Avestar Capital LLC’s holdings in Analog Devices were worth $870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADI. FMR LLC lifted its holdings in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Analog Devices by 17.3% in the 3rd 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 holdings in shares of Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after purchasing an additional 767,534 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock valued at $963,788,000 after purchasing an additional 211,202 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Analog Devices by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock worth $720,933,000 after buying an additional 171,893 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

Insider Activity

In related news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 21.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock worth $25,116,338 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Analog Devices Trading Down 2.0 %

Shares of ADI stock opened at $219.05 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a 50 day simple moving average of $224.75 and a two-hundred day simple moving average of $225.92. The company has a market cap of $108.76 billion, a P/E ratio of 65.78, a PEG 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.