Pinnacle Wealth Planning Services Inc. Has $407,000 Holdings in Analog Devices, Inc. $ADI

Pinnacle Wealth Planning Services Inc. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 36.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,708 shares of the semiconductor company’s stock after selling 979 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Analog Devices were worth $407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Analog Devices by 0.7% in the first quarter. Vanguard Group Inc. now owns 49,465,370 shares of the semiconductor company’s stock valued at $9,975,681,000 after buying an additional 359,841 shares during the period. Geode Capital Management LLC raised its position in shares of Analog Devices by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock valued at $2,770,448,000 after acquiring an additional 633,425 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Analog Devices by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after purchasing an additional 2,407,460 shares during the period. Raymond James Financial Inc. boosted its position in shares of Analog Devices by 0.3% in the 1st quarter. Raymond James Financial Inc. now owns 3,935,224 shares of the semiconductor company’s stock worth $793,616,000 after purchasing an additional 12,666 shares during the last quarter. Finally, Amundi grew its stake in shares of 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 purchasing an additional 880,636 shares during the period. 86.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ADI shares. Benchmark upped their price objective on Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 21st. KeyCorp upped their price target on Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Analog Devices in a report on Thursday, November 13th. Finally, Cantor Fitzgerald increased their target price on shares of Analog Devices from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.89.

Analog Devices Stock Performance

Shares of ADI stock opened at $230.13 on Wednesday. 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 company’s 50 day moving average price is $239.80 and its two-hundred day moving average price is $234.36. The company has a market capitalization of $113.21 billion, a P/E ratio of 58.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 20th. The semiconductor company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.10. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The firm’s revenue was up 24.6% compared to the same quarter last year. On average, analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Insider Transactions at Analog Devices

In other news, SVP Martin Cotter sold 12,500 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $246.25, for a total value of $3,078,125.00. Following the sale, the senior vice president directly owned 63,048 shares in the company, valued at $15,525,570. The trade was a 16.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $242.74, for a total value of $242,740.00. Following the transaction, the director directly owned 5,118 shares of the company’s stock, valued at $1,242,343.32. This represents a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 62,240 shares of company stock worth $15,301,891. Company insiders own 0.33% of the company’s stock.

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.