STF Management LP Has $1.66 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

STF Management LP trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,189 shares of the semiconductor company’s stock after selling 618 shares during the period. Analog Devices accounts for approximately 0.7% of STF Management LP’s holdings, making the stock its 29th largest holding. STF Management LP’s holdings in Analog Devices were worth $1,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after buying an additional 1,330,242 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after purchasing an additional 767,534 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Analog Devices by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after purchasing an additional 211,202 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Analog Devices by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock worth $720,933,000 after purchasing an additional 171,893 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The stock was 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 in the company, valued at approximately $24,447,741.30. This trade represents a 21.57 % 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, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,995 shares of company stock valued at $25,116,338. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ADI shares. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday. They issued an “equal weight” rating and a $220.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.38.

Analog Devices Price Performance

NASDAQ:ADI opened at $213.36 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock’s 50-day simple moving average is $225.09 and its 200 day simple moving average is $225.33. The company has a market cap of $105.93 billion, a P/E ratio of 64.07, a P/E/G ratio of 2.97 and a beta of 1.08. Analog Devices, Inc. has a 52-week low of $179.63 and a 52-week high of $244.14.

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

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.