Avior Wealth Management LLC Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Avior Wealth Management LLC lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 995 shares of the semiconductor company’s stock after selling 57 shares during the quarter. Avior Wealth Management LLC’s holdings in Analog Devices were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC boosted its holdings in Analog Devices by 1.0% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 10,955 shares of the semiconductor company’s stock valued at $2,167,000 after acquiring an additional 111 shares during the period. Ascent Group LLC lifted its position in Analog Devices by 156.6% in the first quarter. Ascent Group LLC now owns 19,718 shares of the semiconductor company’s stock valued at $3,900,000 after purchasing an additional 12,035 shares during the last quarter. Paloma Partners Management Co boosted its stake in shares of Analog Devices by 483.3% during the first quarter. Paloma Partners Management Co now owns 1,518 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 1,914 shares during the period. Benchmark Investment Advisors LLC grew its holdings in shares of Analog Devices by 299.9% in the first quarter. Benchmark Investment Advisors LLC now owns 6,355 shares of the semiconductor company’s stock worth $1,257,000 after purchasing an additional 4,766 shares during the last quarter. Finally, Interval Partners LP purchased a new position in shares of Analog Devices in the first quarter worth $1,978,000. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. The trade was a 16.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,995 shares of company stock worth $25,116,338. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

ADI stock opened at $214.59 on Friday. The stock’s 50 day simple moving average is $224.87 and its 200 day simple moving average is $225.40. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $179.63 and a 12-month high of $244.14. The stock has a market capitalization of $106.54 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 2.97 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm posted $2.49 earnings per share. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADI has been the subject of several analyst reports. Truist Financial cut 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. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday. They set an “equal weight” rating and a $220.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $252.05.

About Analog Devices

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.