Mendel Money Management bought a new position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,061 shares of the semiconductor company’s stock, valued at approximately $253,000.
Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its position in Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 529 shares in the last quarter. Sovran Advisors LLC lifted its position in Analog Devices by 58.5% during the first quarter. Sovran Advisors LLC now owns 1,924 shares of the semiconductor company’s stock valued at $388,000 after buying an additional 710 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in Analog Devices by 22.3% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,415 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 258 shares in the last quarter. Argent Advisors Inc. lifted its position in Analog Devices by 21.5% during the first quarter. Argent Advisors Inc. now owns 1,166 shares of the semiconductor company’s stock valued at $235,000 after buying an additional 206 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its position in Analog Devices by 2.6% during the first quarter. Koshinski Asset Management Inc. now owns 4,472 shares of the semiconductor company’s stock valued at $902,000 after buying an additional 113 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.
Analog Devices Stock Down 1.5%
Shares of NASDAQ:ADI opened at $239.35 on Wednesday. The company has a current ratio of 2.32, a quick ratio of 1.79 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $244.76 and a 200 day simple moving average of $228.98. The firm has a market cap of $117.75 billion, a PE ratio of 61.06, a price-to-earnings-growth ratio of 2.05 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.
Analog Devices Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, September 2nd. Analog Devices’s payout ratio is 101.02%.
Insiders Place Their Bets
In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.71, for a total value of $2,437,100.00. Following the completion of the sale, the chief executive officer owned 140,118 shares in the company, valued at approximately $34,148,157.78. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $246.92, for a total transaction of $771,625.00. Following the completion of the sale, the director owned 155,071 shares of the company’s stock, valued at approximately $38,290,131.32. This trade represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 49,115 shares of company stock valued at $12,232,985. 0.33% of the stock is owned by insiders.
Analyst Ratings Changes
A number of brokerages have weighed in on ADI. Cantor Fitzgerald lifted their price target on shares of Analog Devices from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Benchmark lifted their price target on shares of Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Truist Financial lifted their price target on shares of Analog Devices from $219.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Zacks Research upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Finally, UBS Group dropped their price objective on shares of Analog Devices from $285.00 to $280.00 and set a “buy” rating on the stock in a research note on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.29.
Read Our Latest Research Report on ADI
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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