Penserra Capital Management LLC Sells 76,722 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Penserra Capital Management LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 81.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,574 shares of the semiconductor company’s stock after selling 76,722 shares during the quarter. Penserra Capital Management LLC’s holdings in Analog Devices were worth $4,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the last quarter. Swiss National Bank increased its position in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares in the last quarter. Summit Global Investments purchased a new stake in Analog Devices in the third quarter valued at about $867,000. Versor Investments LP purchased a new stake in shares of Analog Devices during the third quarter worth about $952,000. Finally, Tidal Investments LLC increased its holdings in shares of Analog Devices by 24.9% during the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after acquiring an additional 6,314 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 0.3 %

ADI stock opened at $214.59 on Monday. 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. The company’s 50-day simple moving average is $224.87 and its 200-day simple moving average is $225.70. The firm has a market cap of $106.54 billion, a P/E ratio of 64.44, a PEG ratio of 3.01 and a beta of 1.08.

Wall Street Analyst Weigh In

ADI has been the subject of a number of recent analyst reports. 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. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America reduced their target price 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. Finally, Wells Fargo & Company began coverage on Analog Devices in a research note on Friday. They set an “equal weight” rating and a $220.00 price target on the stock. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’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 of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is owned by corporate insiders.

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.