Summit Trail Advisors LLC Raises Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Summit Trail Advisors LLC boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 62.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,523 shares of the semiconductor company’s stock after acquiring an additional 2,885 shares during the quarter. Summit Trail Advisors LLC’s holdings in Analog Devices were worth $1,732,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB acquired a new position in Analog Devices during the 1st quarter worth $537,171,000. Raymond James & Associates lifted its stake in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after buying an additional 883,888 shares during the last quarter. American Century Companies Inc. lifted its stake 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 acquiring an additional 767,534 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after buying an additional 700,862 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $214.59 on Monday. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The company has a market cap of $106.54 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. The firm has a fifty day moving average price of $224.87 and a two-hundred day moving average price of $225.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. 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, JPMorgan Chase & Co. increased 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 analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.05.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The shares were 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 directly owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock valued at $25,116,338 in the last ninety days. Insiders own 0.31% of the company’s stock.

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.