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

Independent Advisor Alliance reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% during the 3rd quarter, according to its most recent 13F filing 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 quarter. Independent Advisor Alliance’s holdings in Analog Devices were worth $4,550,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Swedbank AB bought a new stake in Analog Devices during the 1st quarter worth about $537,171,000. Raymond James & Associates lifted its position in Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares in the last quarter. International Assets Investment Management LLC lifted its position in Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after buying an additional 883,888 shares in the last quarter. American Century Companies Inc. lifted its position in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after buying an additional 767,534 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Analog Devices by 17.3% during 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 buying an additional 700,862 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

ADI stock opened at $214.59 on Monday. The company has a fifty day moving average price of $224.87 and a 200-day moving average price of $225.70. The company has a market capitalization of $106.54 billion, a P/E ratio of 64.44, a PEG ratio of 3.02 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. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analyst Ratings Changes

Several equities research analysts have commented on ADI shares. Bank of America cut their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Truist Financial lowered 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. Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company began coverage on shares of Analog Devices in a research note on Friday. They set an “equal weight” rating and a $220.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.05.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction 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 sale, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,995 shares of company stock worth $25,116,338 over the last three months. 0.31% of the stock is owned by company insiders.

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.