Prio Wealth Limited Partnership Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Prio Wealth Limited Partnership boosted its stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 34.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,963 shares of the semiconductor company’s stock after buying an additional 1,019 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Analog Devices were worth $787,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ADI. Penobscot Investment Management Company Inc. lifted its stake in shares of Analog Devices by 7.0% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock valued at $1,766,000 after purchasing an additional 658 shares during the period. Gateway Investment Advisers LLC boosted its holdings in shares of Analog Devices by 5.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company’s stock valued at $28,924,000 after buying an additional 7,021 shares in the last quarter. First Foundation Advisors grew its position in shares of Analog Devices by 0.6% in the 2nd quarter. First Foundation Advisors now owns 16,324 shares of the semiconductor company’s stock worth $3,180,000 after buying an additional 97 shares during the period. Rockline Wealth Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth about $334,000. Finally, Ritholtz Wealth Management lifted its position in Analog Devices by 2.5% during the 4th quarter. Ritholtz Wealth Management now owns 4,836 shares of the semiconductor company’s stock valued at $960,000 after acquiring an additional 120 shares during the period. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $3.71 during midday trading on Tuesday, reaching $192.91. The stock had a trading volume of 793,006 shares, compared to its average volume of 3,377,288. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $202.77. The stock has a 50-day moving average of $193.14 and a 200-day moving average of $184.83. The company has a market capitalization of $95.67 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 4.96 and a beta of 1.17.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business posted $2.75 EPS. Analog Devices’s revenue for the quarter was down 22.7% compared to the same quarter last year. As a group, research analysts anticipate that Analog Devices, Inc. will post 5.86 EPS 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. The ex-dividend date was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.91%. Analog Devices’s payout ratio is currently 65.83%.

Analysts Set New Price Targets

ADI has been the topic of a number of recent research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Barclays increased their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a research note on Thursday, February 22nd. Morgan Stanley restated an “overweight” rating and set a $212.00 price objective (down from $219.00) on shares of Analog Devices in a research note on Thursday, February 22nd. Finally, Edward Jones upgraded Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $206.26.

Read Our Latest Research Report 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.

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

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