Cyndeo Wealth Partners LLC Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Cyndeo Wealth Partners LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 66.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 41,228 shares of the semiconductor company’s stock after acquiring an additional 16,525 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Analog Devices were worth $9,489,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Millennium Group LLC purchased a new position in Analog Devices during the second quarter worth about $29,000. Riverview Trust Co purchased a new position in Analog Devices during the first quarter worth about $30,000. ORG Partners LLC raised its holdings in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC raised its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Analog Devices during the second quarter worth about $37,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $10,376,481.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were 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 in the company, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock valued at $20,794,658 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 0.4 %

Shares of NASDAQ ADI opened at $228.33 on Friday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The firm’s 50 day moving average price is $225.95 and its 200 day moving average price is $221.03. The firm has a market cap of $113.30 billion, a P/E ratio of 53.35, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. Morgan Stanley upped their target price on shares of 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 upped their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.