Horizon Kinetics Asset Management LLC Purchases 445 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Horizon Kinetics Asset Management LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,756 shares of the semiconductor company’s stock after purchasing an additional 445 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Analog Devices were worth $1,095,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ADI. Hancock Whitney Corp raised its position in Analog Devices by 5.5% during the third quarter. Hancock Whitney Corp now owns 1,196 shares of the semiconductor company’s stock valued at $275,000 after purchasing an additional 62 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Analog Devices by 126.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 9,711 shares of the semiconductor company’s stock valued at $2,235,000 after buying an additional 5,414 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after buying an additional 7,386 shares during the last quarter. Bank of Hawaii lifted its position in Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Analog Devices by 20.2% in the 3rd quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock valued at $652,000 after purchasing an additional 476 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of ADI opened at $223.58 on Tuesday. Analog Devices, Inc. has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The firm’s 50-day simple moving average is $224.88 and its two-hundred day simple moving average is $225.84. The stock has a market cap of $111.01 billion, a PE ratio of 67.14, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday. They set an “equal weight” rating and a $220.00 target price for the company. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Bank of America dropped their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.05.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,995 shares of company stock valued at $25,116,338 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

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.