Cerity Partners LLC Has $58.79 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Cerity Partners LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 255,439 shares of the semiconductor company’s stock after buying an additional 18,412 shares during the quarter. Cerity Partners LLC’s holdings in Analog Devices were worth $58,794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices in the second quarter valued at approximately $29,000. Archer Investment Corp boosted its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the period. ORG Partners LLC lifted its position in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. Finally, CVA Family Office LLC lifted its position in shares of Analog Devices by 40.2% in 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 in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of a number of research reports. 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. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday. They issued an “equal weight” rating and a $220.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report 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.

Analog Devices Price Performance

Shares of ADI opened at $214.59 on Friday. The firm has a market capitalization of $106.54 billion, a PE ratio of 64.44, a PEG ratio of 3.01 and a beta of 1.08. The company’s 50-day moving average is $224.87 and its 200-day moving average is $225.56. 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 current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last released its quarterly 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. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the company posted $2.49 earnings per share. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Insider Activity at Analog Devices

In related 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 value of $4,477,400.00. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated 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 in the company, valued at $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

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.