Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Smith Salley Wealth Management

Smith Salley Wealth Management increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,441 shares of the semiconductor company’s stock after purchasing an additional 3,044 shares during the quarter. Analog Devices makes up approximately 1.5% of Smith Salley Wealth Management’s holdings, making the stock its 17th largest holding. Smith Salley Wealth Management’s holdings in Analog Devices were worth $23,349,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norden Group LLC boosted its holdings in shares of Analog Devices by 1,534.0% during the first quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after purchasing an additional 25,419 shares during the last quarter. Tidal Investments LLC boosted its stake in Analog Devices by 24.9% in the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after buying an additional 6,314 shares during the last quarter. BDF Gestion purchased a new stake in Analog Devices in the 2nd quarter valued at about $4,491,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of Analog Devices by 3.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock valued at $16,912,000 after acquiring an additional 2,280 shares during the last quarter. Finally, Interval Partners LP purchased a new position in shares of Analog Devices during the 1st quarter worth about $1,978,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Barclays boosted their price target 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. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Performance

Analog Devices stock opened at $230.17 on Friday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market cap of $114.21 billion, a P/E ratio of 53.78, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The stock has a 50 day moving average of $226.85 and a 200-day moving average of $222.11.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data 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 return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company earned $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. On average, analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal 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 paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,495 shares of company stock valued at $20,794,658 over the last 90 days. 0.31% of the stock is owned by company insiders.

Analog Devices Company 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.