Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.6% in the third quarter, Holdings Channel.com reports. The fund owned 113,554 shares of the semiconductor company’s stock after acquiring an additional 10,883 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Analog Devices were worth $26,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baader Bank Aktiengesellschaft grew its stake in Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after acquiring an additional 43 shares in the last quarter. Grove Bank & Trust boosted its holdings in shares of Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after purchasing an additional 43 shares during the last quarter. CVA Family Office LLC grew 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 valued at $36,000 after purchasing an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in shares of Analog Devices by 1.4% in the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its holdings in shares of Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. This trade represents 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 at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $24,883,200 over the last 90 days. 0.31% of the stock is owned by insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $218.05 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24. The company has a market cap of $108.22 billion, a price-to-earnings ratio of 66.28, a price-to-earnings-growth ratio of 3.35 and a beta of 1.08. The stock’s 50-day moving average is $224.14 and its two-hundred day moving average is $225.86. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ADI shares. Morgan Stanley dropped their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. raised 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. Piper Sandler decreased their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. Finally, Truist Financial decreased their price objective on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Company 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.