StoneX Group Inc. Takes $2.45 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

StoneX Group Inc. purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, Holdings Channel reports. The firm purchased 10,662 shares of the semiconductor company’s stock, valued at approximately $2,454,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC bought a new stake in Analog Devices during the second quarter worth $29,000. Archer Investment Corp lifted its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. ORG Partners LLC boosted its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares in the last quarter. Finally, CVA Family Office LLC grew its position in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $214.59 on Friday. 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’s fifty day simple moving average is $224.87 and its two-hundred day simple moving average is $225.56. 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 P/E ratio of 64.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08.

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

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the 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 transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. This trade represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,995 shares of company stock worth $25,116,338. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of a number of research analyst reports. Truist Financial cut 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 report on Monday, September 23rd. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday. They set an “equal weight” rating and a $220.00 target price on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Morgan Stanley upped their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $252.05.

Analog Devices Company 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.