Analog Devices, Inc. (NASDAQ:ADI) Position Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,336 shares of the semiconductor company’s stock after purchasing an additional 582 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Analog Devices were worth $5,832,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter valued at $29,000. Archer Investment Corp boosted its stake 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 acquiring an additional 73 shares in the last quarter. ORG Partners LLC grew its holdings 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 acquiring an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its position in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction 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 owns 3,753 shares of the company’s stock, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADI. JPMorgan Chase & Co. increased their price target 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 target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.05.

Analog Devices Stock Performance

ADI stock opened at $214.59 on Friday. The firm has a 50 day moving average of $224.87 and a two-hundred day moving average of $225.56. Analog Devices, Inc. has a 12 month low of $179.63 and a 12 month high of $244.14. The company has a market capitalization of $106.54 billion, a price-to-earnings ratio of 64.44, a P/E/G ratio of 3.01 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company posted $2.49 earnings per share. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

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.