B. Riley Wealth Advisors Inc. Sells 378 Shares of Analog Devices, Inc. (NASDAQ:ADI)

B. Riley Wealth Advisors Inc. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,937 shares of the semiconductor company’s stock after selling 378 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Analog Devices were worth $1,824,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the 3rd quarter worth about $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $29,000. Archer Investment Corp increased its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices during the 2nd quarter worth approximately $37,000. Finally, Trifecta Capital Advisors LLC boosted its holdings in shares of Analog Devices by 544.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley dropped their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial reduced their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Trading Down 0.1 %

Shares of ADI stock opened at $216.31 on Tuesday. The stock has a market cap of $107.35 billion, a P/E ratio of 65.75, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $221.96 and a 200 day simple moving average of $225.36.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $2.01 EPS. The company’s revenue was down 10.1% compared to the same quarter last year. On average, research analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $24,754,600 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

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.