Analog Devices, Inc. (NASDAQ:ADI) Stock Position Lifted by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 39.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,986 shares of the semiconductor company’s stock after buying an additional 1,125 shares during the period. Prio Wealth Limited Partnership’s holdings in Analog Devices were worth $917,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. raised its position in shares of Analog Devices by 131.1% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 527 shares of the semiconductor company’s stock worth $121,000 after purchasing an additional 299 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Analog Devices by 64.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 568,867 shares of the semiconductor company’s stock worth $130,936,000 after purchasing an additional 223,771 shares during the period. Vest Financial LLC raised its position in shares of Analog Devices by 53.0% during the 3rd quarter. Vest Financial LLC now owns 4,725 shares of the semiconductor company’s stock worth $1,088,000 after purchasing an additional 1,636 shares during the period. OLD National Bancorp IN raised its position in shares of Analog Devices by 0.6% during the 3rd quarter. OLD National Bancorp IN now owns 13,677 shares of the semiconductor company’s stock worth $3,148,000 after purchasing an additional 86 shares during the period. Finally, Cyndeo Wealth Partners LLC raised its position in shares of Analog Devices by 66.9% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 41,228 shares of the semiconductor company’s stock worth $9,489,000 after purchasing an additional 16,525 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,495 shares of company stock worth $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 2.5 %

Shares of Analog Devices stock traded down $5.65 during midday trading on Monday, hitting $222.68. The company’s stock had a trading volume of 314,612 shares, compared to its average volume of 3,236,517. The firm has a market capitalization of $110.50 billion, a P/E ratio of 53.35, a PEG ratio of 3.87 and a beta of 1.07. The stock has a 50-day simple moving average of $225.95 and a 200-day simple moving average of $221.21. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. Analog Devices’s dividend payout ratio is 85.98%.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research reports. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays raised their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

About Analog Devices

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.