Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Wealth Alliance

Wealth Alliance raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,769 shares of the semiconductor company’s stock after acquiring an additional 61 shares during the period. Wealth Alliance’s holdings in Analog Devices were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ADI. Norges Bank acquired a new stake in Analog Devices in the fourth quarter worth approximately $1,040,194,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Analog Devices by 101,479.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after buying an additional 4,107,895 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares during the period. Alliancebernstein L.P. grew its holdings in Analog Devices by 236.6% during the second quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock worth $450,446,000 after acquiring an additional 1,625,377 shares during the period. Finally, Nordea Investment Management AB raised its position in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after acquiring an additional 1,486,180 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADI. Truist Financial lowered their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group increased their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. KeyCorp lifted their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Barclays upped their target price on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Finally, Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research note on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Analog Devices Price Performance

Shares of ADI opened at $187.58 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The firm has a market cap of $93.02 billion, a PE ratio of 33.56, a PEG ratio of 4.80 and a beta of 1.17. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20. The firm’s 50 day moving average price is $193.05 and its 200 day moving average price is $186.47.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $2.75 EPS. Analog Devices’s quarterly revenue was down 22.7% compared to the same quarter last year. As a group, research analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.96%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last three months, insiders sold 24,707 shares of company stock valued at $4,825,113. Company insiders own 0.31% 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.