Alpha DNA Investment Management LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 90.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,591 shares of the semiconductor company's stock after acquiring an additional 4,082 shares during the quarter. Analog Devices makes up about 0.7% of Alpha DNA Investment Management LLC's investment portfolio, making the stock its 24th largest position. Alpha DNA Investment Management LLC's holdings in Analog Devices were worth $1,977,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the 3rd quarter worth $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the second quarter valued at about $29,000. Archer Investment Corp boosted its holdings in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC grew its position in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 45 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.
NASDAQ ADI opened at $214.59 on Friday. 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 debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The firm has a market capitalization of $106.54 billion, a P/E ratio of 64.44, a PEG ratio of 3.01 and a beta of 1.08. The stock has a 50-day simple moving average of $224.87 and a two-hundred day simple moving average of $225.56.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations 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 period last year, the business earned $2.49 earnings per share. On average, equities analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.
Several equities research analysts have weighed in on ADI shares. Wells Fargo & Company began coverage on shares of Analog Devices in a research note on Friday. They issued an "equal weight" rating and a $220.00 target price for the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their target price on Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Finally, Oppenheimer restated an "outperform" rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and a consensus target price of $252.05.
Check Out Our Latest Stock Report on ADI
In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward H. Frank sold 995 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following 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 disclosure for this sale can be found here. Insiders sold a total of 110,995 shares of company stock valued at $25,116,338 in the last three months. 0.31% of the stock is currently owned by corporate insiders.
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.
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