Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,506 shares of the semiconductor company’s stock after acquiring an additional 102 shares during the period. Wedmont Private Capital’s holdings in Analog Devices were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its position in 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 purchasing an additional 65 shares in the last quarter. USA Financial Formulas lifted its stake in shares of Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares during the period. Cetera Trust Company N.A purchased a new stake in Analog Devices during the fourth quarter worth $29,000. Private Wealth Management Group LLC acquired a new stake in Analog Devices during the fourth quarter valued at $29,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in Analog Devices in the fourth quarter valued at $32,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 0.5 %

ADI stock traded up $1.26 during midday trading on Friday, hitting $230.77. 2,169,477 shares of the company’s stock were exchanged, compared to its average volume of 3,329,907. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $114.51 billion, a PE ratio of 53.62, a P/E/G ratio of 3.97 and a beta of 1.12. The business has a 50-day simple moving average of $215.36 and a two-hundred day simple moving average of $200.70.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.83 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.59%. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Buying and Selling

In other news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is available at this link. In other news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,121 shares of company stock valued at $10,875,654. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADI shares. Sanford C. Bernstein raised their target price on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Barclays boosted their price objective on Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Oppenheimer increased their target price on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Cantor Fitzgerald upped their price objective on shares of Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley lifted their target price on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

View Our Latest Research Report 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.

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

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