AdvisorNet Financial Inc Acquires 129 Shares of Analog Devices, Inc. (NASDAQ:ADI)

AdvisorNet Financial Inc grew its holdings in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 9.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,491 shares of the semiconductor company’s stock after acquiring an additional 129 shares during the quarter. AdvisorNet Financial Inc’s holdings in Analog Devices were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Blossom Wealth Management boosted its position in shares of Analog Devices by 4.8% in the first quarter. Blossom Wealth Management now owns 1,424 shares of the semiconductor company’s stock valued at $235,000 after acquiring an additional 65 shares during the period. American National Bank lifted its position in Analog Devices by 10.9% in the first quarter. American National Bank now owns 682 shares of the semiconductor company’s stock worth $113,000 after purchasing an additional 67 shares during the period. Catalyst Capital Advisors LLC lifted its position in Analog Devices by 24.9% in the first quarter. Catalyst Capital Advisors LLC now owns 371 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 74 shares during the period. OPSEU Pension Plan Trust Fund lifted its position in Analog Devices by 2.9% in the first quarter. OPSEU Pension Plan Trust Fund now owns 2,701 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 76 shares during the period. Finally, First Pacific Financial lifted its position in Analog Devices by 1.4% in the first quarter. First Pacific Financial now owns 5,584 shares of the semiconductor company’s stock worth $922,000 after purchasing an additional 77 shares during the period. 85.22% of the stock is owned by institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $149.78 on Wednesday. Analog Devices, Inc. has a twelve month low of $138.50 and a twelve month high of $191.95. The firm has a market cap of $77.04 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.92. The business has a fifty day moving average of $161.96 and a 200-day moving average of $158.62.

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

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Tuesday, August 30th were given a $0.76 dividend. The ex-dividend date was Monday, August 29th. This represents a $3.04 dividend on an annualized basis and a yield of 2.03%. Analog Devices’s payout ratio is 83.98%.

Insider Buying and Selling

In related news, Director Tunc Doluca sold 2,300 shares of Analog Devices stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $160.00, for a total value of $368,000.00. Following the completion of the sale, the director now directly owns 85,357 shares in the company, valued at $13,657,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Analog Devices news, SVP Vivek Jain sold 14,000 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $165.63, for a total transaction of $2,318,820.00. Following the transaction, the senior vice president now owns 18,271 shares in the company, valued at $3,026,225.73. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Tunc Doluca sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $160.00, for a total value of $368,000.00. Following 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 sold a total of 51,700 shares of company stock worth $8,827,200 over the last three months. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Analog Devices in a research report on Friday, August 19th. Truist Financial raised their target price on Analog Devices from $203.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Needham & Company LLC cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. Piper Sandler dropped their price objective on Analog Devices from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, August 18th. Finally, The Goldman Sachs Group dropped their price objective on Analog Devices from $185.00 to $167.00 in a research note on Friday, July 15th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $195.53.

About Analog Devices

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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.

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

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