Wedmont Private Capital Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Wedmont Private Capital increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,323 shares of the semiconductor company’s stock after buying an additional 269 shares during the period. Wedmont Private Capital’s holdings in Analog Devices were worth $979,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. New Millennium Group LLC purchased a new position in Analog Devices during the second quarter valued at $29,000. Riverview Trust Co purchased a new position in Analog Devices in the 1st quarter valued at about $30,000. ORG Partners LLC lifted its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC boosted its holdings in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Analog Devices during the 2nd quarter worth approximately $37,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Down 1.1 %

ADI stock opened at $230.70 on Friday. The firm has a market cap of $114.48 billion, a PE ratio of 53.90, a PEG ratio of 3.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The firm’s 50 day moving average price is $222.95 and its 200-day moving average price is $219.29. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $2.49 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, equities research analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.60%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,495 shares of company stock worth $20,794,658. Insiders own 0.31% of the company’s stock.

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.