EP Wealth Advisors LLC Buys New Stake in Analog Devices, Inc. (NASDAQ:ADI)

EP Wealth Advisors LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the first quarter, Holdings Channel reports. The fund bought 2,007 shares of the semiconductor company’s stock, valued at approximately $396,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its position in Analog Devices by 1.2% during the first quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock valued at $4,024,078,000 after purchasing an additional 238,249 shares during the period. FMR LLC increased its holdings in Analog Devices by 72.8% in the first quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock valued at $2,692,080,000 after buying an additional 5,748,969 shares in the last quarter. Geode Capital Management LLC increased its holdings in Analog Devices by 0.7% in the first quarter. Geode Capital Management LLC now owns 9,393,867 shares of the semiconductor company’s stock valued at $1,848,963,000 after buying an additional 67,674 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Analog Devices by 3.6% in the first quarter. Ameriprise Financial Inc. now owns 8,731,123 shares of the semiconductor company’s stock valued at $1,725,438,000 after buying an additional 299,904 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Analog Devices by 1.9% in the fourth quarter. Wells Fargo & Company MN now owns 8,397,341 shares of the semiconductor company’s stock valued at $1,377,416,000 after buying an additional 153,727 shares in the last quarter. 85.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $185.91, for a total transaction of $1,859,100.00. Following the sale, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at approximately $13,146,253.83. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 30,000 shares of company stock valued at $5,661,500 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. KeyCorp cut their price objective on shares of Analog Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, May 25th. Truist Financial cut their target price on shares of Analog Devices from $251.00 to $213.00 in a research note on Thursday, May 25th. BMO Capital Markets cut their target price on shares of Analog Devices from $215.00 to $200.00 in a research note on Thursday, May 25th. The Goldman Sachs Group cut their target price on shares of Analog Devices from $204.00 to $188.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Finally, Robert W. Baird cut their target price on shares of Analog Devices from $235.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, August 24th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.21.

Analog Devices Stock Performance

Shares of ADI stock opened at $178.14 on Monday. The firm’s 50 day moving average price is $185.76 and its 200-day moving average price is $185.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.10 and a current ratio of 1.71. Analog Devices, Inc. has a one year low of $133.48 and a one year high of $200.10. The firm has a market cap of $88.77 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.80 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 23rd. The semiconductor company reported $2.49 EPS for the quarter, missing the consensus estimate of $2.52 by ($0.03). Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the company posted $2.52 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 10.12 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, September 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, September 1st. Analog Devices’s payout ratio is currently 46.74%.

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 that include performance, integration, and software design simulation tools for accurate power supply designs.