Highland Private Wealth Management Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Highland Private Wealth Management grew its stake in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,885 shares of the semiconductor company’s stock after acquiring an additional 77 shares during the period. Highland Private Wealth Management’s holdings in Analog Devices were worth $276,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blossom Wealth Management increased its stake in Analog Devices by 4.8% during the 1st quarter. Blossom Wealth Management now owns 1,424 shares of the semiconductor company’s stock worth $235,000 after buying an additional 65 shares during the period. American National Bank increased its stake in Analog Devices by 10.9% during the 1st quarter. American National Bank now owns 682 shares of the semiconductor company’s stock worth $113,000 after buying an additional 67 shares during the period. Catalyst Capital Advisors LLC increased its stake in Analog Devices by 24.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 371 shares of the semiconductor company’s stock worth $61,000 after buying an additional 74 shares during the period. WBH Advisory Inc. grew its holdings in Analog Devices by 4.4% during the 2nd quarter. WBH Advisory Inc. now owns 1,771 shares of the semiconductor company’s stock worth $261,000 after acquiring an additional 74 shares in the last quarter. Finally, OPSEU Pension Plan Trust Fund grew its holdings in Analog Devices by 2.9% during the 1st quarter. OPSEU Pension Plan Trust Fund now owns 2,701 shares of the semiconductor company’s stock worth $451,000 after acquiring an additional 76 shares in the last quarter. 85.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Vivek Jain sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $165.63, for a total value of $2,318,820.00. Following the sale, the senior vice president now directly owns 18,271 shares of the company’s stock, valued at $3,026,225.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Vivek Jain sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $165.63, for a total value of $2,318,820.00. Following the sale, the senior vice president now directly owns 18,271 shares of the company’s stock, valued at $3,026,225.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tunc Doluca sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $160.00, for a total transaction of $368,000.00. Following the completion of the transaction, the director now owns 85,357 shares in the company, valued at approximately $13,657,120. The disclosure for this sale can be found here. Insiders have sold 51,700 shares of company stock valued at $8,827,200 in the last ninety days. Insiders own 0.91% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $145.34 on Friday. The stock has a market cap of $74.75 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 1.30 and a beta of 1.16. Analog Devices, Inc. has a 52 week low of $138.50 and a 52 week high of $191.95. The company’s 50-day moving average price is $161.82 and its 200 day moving average price is $158.48. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADIGet Rating) last released its quarterly earnings results on Wednesday, August 17th. The semiconductor company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the company earned $1.72 EPS. The firm’s revenue for the quarter was up 76.8% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 9.42 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Tuesday, August 30th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $3.04 annualized dividend and a dividend yield of 2.09%. Analog Devices’s dividend payout ratio is currently 83.98%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADI shares. Bank of America lowered their price target on shares of Analog Devices from $220.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Truist Financial upped their target price on shares of Analog Devices from $203.00 to $209.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Piper Sandler lowered their target price on shares of Analog Devices from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, August 18th. Needham & Company LLC cut shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Finally, Morgan Stanley cut their price objective on shares of Analog Devices from $186.00 to $173.00 and set an “equal weight” rating for the company in a research report on Friday, June 10th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.53.

Analog Devices Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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