Drive Wealth Management LLC Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Drive Wealth Management LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 9.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,326 shares of the semiconductor company’s stock after buying an additional 113 shares during the period. Drive Wealth Management LLC’s holdings in Analog Devices were worth $263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Werba Rubin Papier Wealth Management purchased a new position in Analog Devices during the fourth quarter worth approximately $208,000. First Citizens Bank & Trust Co. raised its stake in Analog Devices by 1.0% during the fourth quarter. First Citizens Bank & Trust Co. now owns 30,329 shares of the semiconductor company’s stock worth $6,022,000 after purchasing an additional 301 shares during the period. Pinnacle Financial Partners Inc raised its stake in Analog Devices by 9.1% during the fourth quarter. Pinnacle Financial Partners Inc now owns 2,489 shares of the semiconductor company’s stock worth $494,000 after purchasing an additional 207 shares during the period. Prio Wealth Limited Partnership raised its stake in Analog Devices by 34.6% during the fourth quarter. Prio Wealth Limited Partnership now owns 3,963 shares of the semiconductor company’s stock worth $787,000 after purchasing an additional 1,019 shares during the period. Finally, Silverlake Wealth Management LLC purchased a new position in Analog Devices during the fourth quarter worth approximately $211,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

ADI opened at $194.88 on Wednesday. The firm has a market cap of $96.64 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 4.96 and a beta of 1.17. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $202.77. The company has a fifty day simple moving average of $193.13 and a 200 day simple moving average of $184.95.

Analog Devices (NASDAQ:ADIGet Free Report) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.75 EPS. Equities research analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.92 dividend. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.89%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is presently 65.83%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,228 shares of company stock valued at $4,137,802. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ADI shares. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research note on Thursday, January 18th. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a research note on Monday, March 4th. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research note on Thursday, January 4th. Barclays raised their target price on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.26.

View Our Latest Analysis on Analog Devices

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

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

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