IHT Wealth Management LLC Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

IHT Wealth Management LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 14.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,523 shares of the semiconductor company’s stock after purchasing an additional 711 shares during the period. IHT Wealth Management LLC’s holdings in Analog Devices were worth $1,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the third quarter worth $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the 2nd quarter worth $29,000. Archer Investment Corp boosted its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. ORG Partners LLC grew its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Analog Devices in the second quarter worth about $37,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Down 1.7 %

Analog Devices stock opened at $214.55 on Friday. The business’s 50-day moving average price is $223.45 and its 200 day moving average price is $226.02. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $106.48 billion, a price-to-earnings ratio of 65.21, a price-to-earnings-growth ratio of 2.52 and a beta of 1.05. Analog Devices, Inc. has a 52 week low of $180.17 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company earned $2.01 EPS. The business’s revenue was down 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.72%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at $18,106,760.49. This trade represents a 27.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock valued at $22,596,300 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Truist Financial dropped their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Finally, Morgan Stanley decreased their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $249.33.

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.