Pitcairn Co. Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Pitcairn Co. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,721 shares of the semiconductor company’s stock after selling 702 shares during the quarter. Pitcairn Co.’s holdings in Analog Devices were worth $856,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Kingsview Wealth Management LLC grew its stake in Analog Devices by 1.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 44,011 shares of the semiconductor company’s stock valued at $10,130,000 after acquiring an additional 705 shares during the period. Cerity Partners LLC lifted its holdings in Analog Devices by 7.8% during the third quarter. Cerity Partners LLC now owns 255,439 shares of the semiconductor company’s stock valued at $58,794,000 after purchasing an additional 18,412 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in shares of Analog Devices by 39.4% in the third quarter. Great Valley Advisor Group Inc. now owns 2,018 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 570 shares during the period. Keyes Stange & Wooten Wealth Management LLC acquired a new position in shares of Analog Devices during the 3rd quarter worth about $596,000. Finally, Nicolet Advisory Services LLC lifted its stake in Analog Devices by 4.2% in the 3rd quarter. Nicolet Advisory Services LLC now owns 5,382 shares of the semiconductor company’s stock valued at $1,219,000 after buying an additional 215 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America cut their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley increased their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $252.05.

Analog Devices Trading Up 0.3 %

Shares of ADI stock opened at $214.59 on Monday. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14. The firm has a market cap of $106.54 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. The company has a 50-day moving average of $224.87 and a two-hundred day moving average of $225.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,995 shares of company stock valued at $25,116,338. Company insiders own 0.31% of the company’s stock.

Analog Devices 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.