Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Wealth Alliance

Wealth Alliance lessened its position in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 29.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,708 shares of the semiconductor company’s stock after selling 696 shares during the period. Wealth Alliance’s holdings in Analog Devices were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ADI. Norges Bank acquired a new stake in shares of Analog Devices in the 4th quarter worth $1,040,194,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Analog Devices by 101,479.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after purchasing an additional 4,107,895 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after purchasing an additional 2,497,696 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Analog Devices by 236.6% in the 2nd quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after purchasing an additional 1,625,377 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Analog Devices by 111.6% in the 2nd quarter. Barclays PLC now owns 1,596,945 shares of the semiconductor company’s stock valued at $311,100,000 after purchasing an additional 842,406 shares in the last quarter. Institutional investors and hedge funds own 85.55% of the company’s stock.

Analog Devices Trading Up 0.5 %

ADI opened at $195.02 on Monday. The firm has a market capitalization of $96.70 billion, a P/E ratio of 29.82, a P/E/G ratio of 2.86 and a beta of 1.19. The firm’s 50 day moving average is $192.53 and its 200-day moving average is $182.54. 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.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.01). The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Analog Devices had a net margin of 26.94% and a return on equity of 14.18%. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.73 EPS. Analysts expect that Analog Devices, Inc. will post 7.05 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Monday, December 4th were paid a $0.86 dividend. The ex-dividend date of this dividend was Friday, December 1st. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.76%. Analog Devices’s dividend payout ratio (DPR) is presently 52.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADI. Edward Jones upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Piper Sandler dropped their target price on shares of Analog Devices from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, November 22nd. Truist Financial dropped their target price on shares of Analog Devices from $213.00 to $206.00 and set a “buy” rating for the company in a report on Wednesday, November 22nd. TD Cowen raised their target price on shares of Analog Devices from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. Finally, UBS Group raised their target price on shares of Analog Devices from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $206.56.

Read Our Latest Stock Analysis on ADI

Insider Buying and Selling

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

Analog Devices Profile

(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.

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

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