RMG Wealth Management LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 109 shares of the semiconductor company’s stock, valued at approximately $26,000.
A number of other large investors also recently added to or reduced their stakes in ADI. Activest Wealth Management lifted its stake in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Analog Devices during the first quarter worth $27,000. N.E.W. Advisory Services LLC acquired a new position in Analog Devices during the first quarter worth $33,000. North Capital Inc. acquired a new position in Analog Devices during the first quarter worth $36,000. Finally, Wolff Wiese Magana LLC lifted its stake in Analog Devices by 209.8% during the first quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 128 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices Stock Performance
NASDAQ:ADI opened at $233.75 on Wednesday. The business’s fifty day moving average price is $241.19 and its 200 day moving average price is $223.76. The firm has a market capitalization of $114.99 billion, a PE ratio of 59.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.09. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $258.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.79.
Analog Devices Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.96 annualized dividend and a dividend yield of 1.7%. Analog Devices’s dividend payout ratio (DPR) is presently 101.02%.
Analyst Upgrades and Downgrades
A number of research firms have commented on ADI. Weiss Ratings restated a “buy (b-)” rating on shares of Analog Devices in a research note on Saturday, September 27th. Benchmark increased their price objective on Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Keefe, Bruyette & Woods upgraded Analog Devices to an “outperform” rating in a research note on Wednesday, June 18th. KeyCorp increased their price objective on Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Finally, The Goldman Sachs Group began coverage on Analog Devices in a research note on Thursday, July 10th. They issued a “buy” rating and a $285.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.29.
Check Out Our Latest Analysis on Analog Devices
Insider Activity
In related news, SVP Katsufumi Nakamura sold 2,490 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $248.03, for a total transaction of $617,594.70. Following the transaction, the senior vice president owned 13,549 shares of the company’s stock, valued at $3,360,558.47. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Martin Cotter sold 12,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $246.25, for a total value of $3,078,125.00. Following the transaction, the senior vice president directly owned 63,048 shares in the company, valued at approximately $15,525,570. This represents a 16.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,240 shares of company stock valued at $12,980,578. Insiders own 0.33% of the company’s stock.
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.
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