Perigon Wealth Management LLC Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Perigon Wealth Management LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,124 shares of the semiconductor company’s stock after acquiring an additional 234 shares during the period. Perigon Wealth Management LLC’s holdings in Analog Devices were worth $422,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. lifted its holdings in shares of Analog Devices by 101.6% in the 4th 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 last quarter. Fortis Capital Advisors LLC acquired a new stake in Analog Devices during the 1st quarter worth $31,000. Silver Oak Securities Incorporated acquired a new position in Analog Devices in the third quarter valued at $29,000. Quarry LP increased its stake in Analog Devices by 267.4% in the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 123 shares during the period. Finally, CGC Financial Services LLC acquired a new position in Analog Devices in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’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 value of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now 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. Over the last three months, insiders have sold 24,707 shares of company stock worth $4,825,113. Insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 1.0 %

Shares of Analog Devices stock opened at $190.29 on Tuesday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $204.20. The stock has a market cap of $94.37 billion, a P/E ratio of 34.04, a P/E/G ratio of 4.82 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $193.20 and its 200-day moving average is $186.33.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business earned $2.75 EPS. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.93%. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Analyst Ratings Changes

A number of research firms recently commented on ADI. Barclays boosted their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a research report on Monday, March 4th. Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Finally, KeyCorp boosted their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $206.26.

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.