Mn Services Vermogensbeheer B.V. lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,537 shares of the semiconductor company’s stock after acquiring an additional 1,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Analog Devices were worth $5,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of ADI. Moody National Bank Trust Division acquired a new position in Analog Devices during the third quarter worth $105,000. Fort L.P. acquired a new stake in shares of Analog Devices in the 2nd quarter valued at about $117,000. Integrated Investment Consultants LLC acquired a new stake in shares of Analog Devices in the 2nd quarter valued at about $130,000. Gamble Jones Investment Counsel acquired a new stake in shares of Analog Devices in the 2nd quarter valued at about $200,000. Finally, Sawtooth Solutions LLC acquired a new stake in shares of Analog Devices in the 2nd quarter valued at about $200,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Analog Devices stock opened at $87.96 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.58 and a quick ratio of 1.16. Analog Devices, Inc. has a fifty-two week low of $76.62 and a fifty-two week high of $103.59. The stock has a market capitalization of $32.40 billion, a P/E ratio of 18.64, a PEG ratio of 1.20 and a beta of 1.23.
Analog Devices declared that its Board of Directors has approved a share buyback plan on Tuesday, August 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other Analog Devices news, SVP Joseph Hassett sold 12,000 shares of Analog Devices stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $100.40, for a total value of $1,204,800.00. Following the completion of the transaction, the senior vice president now directly owns 26,711 shares in the company, valued at $2,681,784.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the completion of the transaction, the chief executive officer now owns 27,376 shares of the company’s stock, valued at $2,326,960. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,050 shares of company stock valued at $8,318,658. 0.70% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on ADI. Morgan Stanley decreased their target price on Analog Devices from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, October 3rd. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research report on Thursday, August 23rd. Raymond James upped their target price on Analog Devices from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. ValuEngine cut Analog Devices from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Finally, Barclays reissued an “overweight” rating and issued a $108.00 price objective on shares of Analog Devices in a report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $103.70.
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Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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