Picton Mahoney Asset Management Has $13.78 Million Stock Holdings in Analog Devices, Inc. $ADI

Picton Mahoney Asset Management lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 42.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 57,912 shares of the semiconductor company’s stock after buying an additional 17,372 shares during the period. Picton Mahoney Asset Management’s holdings in Analog Devices were worth $13,783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Solstein Capital LLC raised its holdings in shares of Analog Devices by 2.0% during the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after buying an additional 46 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Analog Devices by 7.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,001,839 shares of the semiconductor company’s stock valued at $238,458,000 after buying an additional 71,735 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Analog Devices by 13.7% in the second quarter. Nisa Investment Advisors LLC now owns 203,286 shares of the semiconductor company’s stock valued at $48,386,000 after acquiring an additional 24,425 shares during the last quarter. Bank of Montreal Can raised its stake in Analog Devices by 88.2% during the second quarter. Bank of Montreal Can now owns 1,040,536 shares of the semiconductor company’s stock worth $247,668,000 after acquiring an additional 487,535 shares in the last quarter. Finally, Savvy Advisors Inc. bought a new position in shares of Analog Devices in the second quarter worth about $279,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BNP Paribas initiated coverage on shares of Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target on the stock. Zacks Research lowered shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. KeyCorp upped their price target on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Truist Financial increased their price target on Analog Devices from $219.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. Finally, BNP Paribas Exane started coverage on Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective on the stock. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.42.

Analog Devices Price Performance

ADI stock opened at $239.40 on Tuesday. The company has a market capitalization of $117.77 billion, a P/E ratio of 61.07, a PEG ratio of 1.98 and a beta of 1.09. The company has a fifty day moving average price of $238.67 and a 200-day moving average price of $235.30. 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.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 20,000 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $254.29, for a total value of $5,085,800.00. Following the completion of the sale, the chief executive officer owned 23,515 shares of the company’s stock, valued at approximately $5,979,629.35. This represents a 45.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Martin Cotter sold 12,500 shares of Analog Devices stock in a transaction that occurred on 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 completion of the transaction, the senior vice president directly owned 63,048 shares in the company, valued at approximately $15,525,570. This represents a 16.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 59,750 shares of company stock valued at $14,684,296 in the last quarter. 0.33% of the stock is currently owned by company insiders.

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.