Avantax Advisory Services Inc. Acquires 2,276 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Avantax Advisory Services Inc. boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 34.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,955 shares of the semiconductor company’s stock after acquiring an additional 2,276 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Analog Devices were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bryn Mawr Capital Management LLC lifted its stake in shares of Analog Devices by 22.8% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 40,540 shares of the semiconductor company’s stock valued at $7,098,000 after purchasing an additional 7,521 shares during the period. Kestra Private Wealth Services LLC increased its holdings in shares of Analog Devices by 4.7% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 43,921 shares of the semiconductor company’s stock worth $7,690,000 after purchasing an additional 1,979 shares in the last quarter. Keybank National Association OH increased its holdings in shares of Analog Devices by 8.5% in the 3rd quarter. Keybank National Association OH now owns 13,758 shares of the semiconductor company’s stock worth $2,409,000 after purchasing an additional 1,077 shares in the last quarter. Summit Financial LLC increased its holdings in shares of Analog Devices by 1.2% in the 3rd quarter. Summit Financial LLC now owns 6,797 shares of the semiconductor company’s stock worth $1,190,000 after purchasing an additional 82 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in shares of Analog Devices by 9.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 66,492 shares of the semiconductor company’s stock worth $11,642,000 after purchasing an additional 5,916 shares in the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $191.97 on Thursday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $202.77. The company has a quick ratio of 0.86, a current ratio of 1.37 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $192.08 and its 200-day simple moving average is $182.60. The company has a market capitalization of $95.19 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.82 and a beta of 1.19.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its earnings results on Tuesday, November 21st. The semiconductor company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.01). Analog Devices had a return on equity of 14.18% and a net margin of 26.94%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the firm posted $2.73 earnings per share. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year. As a group, analysts expect that Analog Devices, Inc. will post 7.05 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Monday, December 4th were paid a dividend of $0.86 per share. The ex-dividend date was Friday, December 1st. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.79%. Analog Devices’s dividend payout ratio is 52.60%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,125,860.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,125,860.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vivek Jain sold 17,038 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $183.66, for a total value of $3,129,199.08. Following the sale, the executive vice president now owns 5,815 shares of the company’s stock, valued at approximately $1,067,982.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,038 shares of company stock worth $7,020,999. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ADI. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, January 29th. Barclays lifted their price objective on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Edward Jones raised Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Morgan Stanley raised Analog Devices from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $176.00 to $225.00 in a report on Friday, November 17th. Finally, TD Cowen lifted their price objective on Analog Devices from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.56.

Check Out Our Latest Analysis on ADI

About Analog Devices

(Free Report)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that 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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