Tritonpoint Wealth LLC Has $6.27 Million Stock Position in Analog Devices, Inc. $ADI

Tritonpoint Wealth LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 31.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,517 shares of the semiconductor company’s stock after buying an additional 6,167 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Analog Devices were worth $6,269,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Howard Hughes Medical Institute acquired a new position in Analog Devices in the 2nd quarter worth $25,000. Activest Wealth Management raised its stake in shares of Analog Devices by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. RMG Wealth Management LLC bought a new stake in shares of Analog Devices in the second quarter valued at about $26,000. Saudi Central Bank bought a new stake in shares of Analog Devices in the first quarter valued at about $39,000. Finally, Sound Income Strategies LLC boosted its position in shares of Analog Devices by 141.8% during the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after buying an additional 95 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, Director Edward H. Frank sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $242.74, for a total transaction of $242,740.00. Following the transaction, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the sale, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This represents a 30.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,419 shares of company stock worth $10,249,017 in the last three months. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. UBS Group lifted their price objective on shares of Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a report on Monday, December 8th. Bank of America increased their target price on shares of Analog Devices from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 target price on shares of Analog Devices in a research report on Tuesday, December 16th. Finally, BNP Paribas began coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $287.22.

Analog Devices Stock Performance

Shares of ADI stock opened at $277.98 on Thursday. The company has a fifty day moving average price of $252.62 and a two-hundred day moving average price of $243.60. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $284.23. The stock has a market cap of $136.11 billion, a P/E ratio of 60.96, a P/E/G ratio of 1.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the business earned $1.67 EPS. Analog Devices’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.4%. Analog Devices’s dividend payout ratio is currently 86.84%.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.