Axxcess Wealth Management LLC lifted its position in Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 172.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,298 shares of the semiconductor company’s stock after purchasing an additional 2,087 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Analog Devices were worth $482,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in ADI. Horan Securities Inc. grew its holdings in Analog Devices by 101.2% during the 1st quarter. Horan Securities Inc. now owns 163 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 82 shares during the last quarter. Core Alternative Capital grew its holdings in Analog Devices by 333.3% during the 1st quarter. Core Alternative Capital now owns 182 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 140 shares during the last quarter. Selective Wealth Management Inc. grew its holdings in Analog Devices by 1,116.7% during the 2nd quarter. Selective Wealth Management Inc. now owns 219 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 201 shares during the last quarter. Worth Asset Management LLC bought a new stake in Analog Devices during the 1st quarter worth about $33,000. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in Analog Devices by 50.6% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 232 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 85.22% of the company’s stock.
Wall Street Analyst Weigh In
ADI has been the topic of a number of research analyst reports. Robert W. Baird reissued an “outperform” rating and set a $220.00 price objective on shares of Analog Devices in a report on Friday, August 19th. Morgan Stanley increased their price objective on shares of Analog Devices from $173.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday. Cowen raised their target price on shares of Analog Devices from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Analog Devices in a research note on Friday, November 18th. Finally, UBS Group reduced their target price on shares of Analog Devices from $210.00 to $195.00 in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.65.
Insiders Place Their Bets
Analog Devices Stock Performance
Shares of NASDAQ:ADI opened at $169.20 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.92 and a quick ratio of 1.43. The company has a market capitalization of $87.03 billion, a price-to-earnings ratio of 46.74, a P/E/G ratio of 1.38 and a beta of 1.11. The firm’s 50 day simple moving average is $147.66 and its 200 day simple moving average is $154.99. Analog Devices, Inc. has a fifty-two week low of $133.48 and a fifty-two week high of $188.20.
Analog Devices (NASDAQ:ADI – Get Rating) last announced its earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.58 by $0.15. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.16 billion. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. The business’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 9.43 earnings per share for the current year.
Analog Devices Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, December 2nd. This represents a $3.04 annualized dividend and a yield of 1.80%. Analog Devices’s dividend payout ratio (DPR) is currently 83.98%.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.
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