Bank Julius Baer & Co. Ltd Zurich Sells 47,667 Shares of Analog Devices, Inc. $ADI

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 525,226 shares of the semiconductor company’s stock after selling 47,667 shares during the period. Analog Devices accounts for approximately 2.0% of Bank Julius Baer & Co. Ltd Zurich’s investment portfolio, making the stock its 5th biggest holding. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.11% of Analog Devices worth $125,014,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADI. Price T Rowe Associates Inc. MD lifted its holdings in shares of Analog Devices by 26.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock worth $2,304,098,000 after buying an additional 2,407,460 shares in the last quarter. Nuveen LLC acquired a new position in shares of Analog Devices in the first quarter valued at about $351,943,000. Amundi increased its position in Analog Devices by 29.2% during the first quarter. Amundi now owns 3,892,848 shares of the semiconductor company’s stock worth $785,071,000 after acquiring an additional 880,636 shares during the period. Vanguard Group Inc. raised its stake in Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Analog Devices by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Activity at Analog Devices

In related news, SVP Martin Cotter sold 12,500 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $246.25, for a total value of $3,078,125.00. Following the completion of the transaction, the senior vice president owned 63,048 shares of the company’s stock, valued at $15,525,570. This represents a 16.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director owned 5,118 shares in the company, valued at $1,242,343.32. This represents a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,750 shares of company stock worth $14,684,296 over the last three months. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADI. Evercore ISI increased their target price on shares of Analog Devices from $280.00 to $303.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Cantor Fitzgerald increased their price target on Analog Devices from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Truist Financial raised their price objective on Analog Devices from $219.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Zacks Research downgraded Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Morgan Stanley raised their price target on Analog Devices from $273.00 to $288.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $277.89.

Analog Devices Trading Down 3.0%

Shares of ADI opened at $225.20 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $258.13. The firm has a market cap of $110.79 billion, a price-to-earnings ratio of 57.45, a PEG ratio of 1.98 and a beta of 1.10. The business’s fifty day moving average is $239.04 and its 200-day moving average is $234.29.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.10. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the firm posted $1.58 earnings per share. Analog Devices’s revenue was up 24.6% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

About Analog Devices

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.