NewEdge Wealth LLC Sells 360 Shares of Analog Devices, Inc. (NASDAQ:ADI)

NewEdge Wealth LLC lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,185 shares of the semiconductor company’s stock after selling 360 shares during the period. NewEdge Wealth LLC’s holdings in Analog Devices were worth $1,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. lifted its stake in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the period. Silver Oak Securities Incorporated purchased a new stake in Analog Devices in the third quarter worth about $29,000. Fortis Capital Advisors LLC purchased a new stake in Analog Devices in the first quarter worth about $31,000. Quarry LP lifted its stake in Analog Devices by 267.4% in the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 123 shares during the period. Finally, Worth Asset Management LLC purchased a new stake in Analog Devices in the first quarter worth about $33,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI opened at $190.29 on Tuesday. The stock has a 50-day simple moving average of $193.20 and a 200-day simple moving average of $186.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The stock has a market capitalization of $94.37 billion, a PE ratio of 34.04, a PEG ratio of 4.82 and a beta of 1.17. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.75 EPS. On average, analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.93%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is 65.83%.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a report on Thursday, January 4th. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Truist Financial cut their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, KeyCorp increased their price target on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $206.26.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,825,113 over the last three months. 0.31% of the stock is owned by corporate insiders.

Analog Devices Profile

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.