Wealth Alliance Acquires 61 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wealth Alliance raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,769 shares of the semiconductor company’s stock after purchasing an additional 61 shares during the period. Wealth Alliance’s holdings in Analog Devices were worth $351,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ADI. Pinnacle Bancorp Inc. increased its stake in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares during the period. Silver Oak Securities Incorporated bought a new position in Analog Devices during the 3rd quarter worth $29,000. Fortis Capital Advisors LLC acquired a new stake in shares of Analog Devices during the first quarter worth $31,000. Quarry LP boosted its position in shares of Analog Devices by 267.4% in the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 123 shares during the period. Finally, Worth Asset Management LLC bought a new stake in shares of Analog Devices in the first quarter valued at about $33,000. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ADI shares. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target for the company. in a research report on Thursday, January 4th. The Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Truist Financial dropped their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, KeyCorp upped their target price on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Analog Devices Trading Down 1.0 %

Shares of ADI stock opened at $187.58 on Friday. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20. The stock’s fifty day simple moving average is $193.05 and its 200 day simple moving average is $186.47. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $93.02 billion, a P/E ratio of 33.56, a P/E/G ratio of 4.80 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The firm’s revenue was down 22.7% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is 65.83%.

Insider Buying and Selling

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,825,113 over the last 90 days. 0.31% of the stock is owned by insiders.

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.