Independent Advisor Alliance Sells 718 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Independent Advisor Alliance trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,768 shares of the semiconductor company’s stock after selling 718 shares during the period. Independent Advisor Alliance’s holdings in Analog Devices were worth $4,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ADI. Paloma Partners Management Co lifted its stake in shares of Analog Devices by 483.3% in the first quarter. Paloma Partners Management Co now owns 1,518 shares of the semiconductor company’s stock valued at $300,000 after buying an additional 1,914 shares in the last quarter. Interval Partners LP bought a new position in shares of Analog Devices during the first quarter valued at about $1,978,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Analog Devices by 19.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 11,619 shares of the semiconductor company’s stock valued at $2,298,000 after purchasing an additional 1,893 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Analog Devices by 0.7% during the first quarter. California State Teachers Retirement System now owns 814,293 shares of the semiconductor company’s stock valued at $161,059,000 after purchasing an additional 5,448 shares in the last quarter. Finally, Tidal Investments LLC lifted its position 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 purchasing an additional 6,314 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADI. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday. They issued an “equal weight” rating and a $220.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.05.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were 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 owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % 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 Stock Performance

Analog Devices stock opened at $214.59 on Monday. The firm’s 50 day simple moving average is $224.87 and its 200 day simple moving average is $225.70. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $106.54 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14.

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.