Smith Salley Wealth Management Buys 2,097 Shares of Analog Devices, Inc. $ADI

Smith Salley Wealth Management boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 109,416 shares of the semiconductor company’s stock after purchasing an additional 2,097 shares during the quarter. Analog Devices makes up 1.4% of Smith Salley Wealth Management’s portfolio, making the stock its 20th largest position. Smith Salley Wealth Management’s holdings in Analog Devices were worth $26,884,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Howard Hughes Medical Institute purchased a new position in Analog Devices during the 2nd quarter valued at approximately $25,000. RMG Wealth Management LLC purchased a new stake in shares of Analog Devices in the second quarter valued at $26,000. Clayton Financial Group LLC bought a new position in shares of Analog Devices during the third quarter valued at approximately $31,000. Sound Income Strategies LLC raised its stake 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 valued at $39,000 after acquiring an additional 95 shares in the last quarter. Finally, Nova Wealth Management Inc. purchased a new position in Analog Devices during the 1st quarter worth $42,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Down 0.3%

NASDAQ ADI opened at $274.82 on Wednesday. The firm’s fifty day moving average is $255.18 and its two-hundred day moving average is $245.00. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $284.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The firm has a market cap of $134.57 billion, a PE ratio of 60.27, a P/E/G ratio of 1.52 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 earnings per share. Analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.99 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADI. Morgan Stanley lifted their price target on Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Truist Financial boosted their price objective on Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a report on Friday, December 19th. Wall Street Zen cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America lifted their target price on Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Analog Devices in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold 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 $287.22.

Insider Buying and Selling

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the sale, the chief accounting officer directly owned 18,913 shares in the company, valued at approximately $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the completion of the transaction, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This represents a 5.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,419 shares of company stock valued at $7,811,917 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

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.