Elevation Point Wealth Partners LLC Cuts Position in Analog Devices, Inc. $ADI

Elevation Point Wealth Partners LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,955 shares of the semiconductor company’s stock after selling 214 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Analog Devices were worth $2,607,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. RMG Wealth Management LLC purchased a new position in shares of Analog Devices in the second quarter valued at $26,000. Activest Wealth Management grew its position in shares of Analog Devices by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Analog Devices during the 1st quarter worth approximately $33,000. Access Investment Management LLC purchased a new stake in Analog Devices in the 2nd quarter valued at approximately $45,000. Finally, Saudi Central Bank acquired a new stake in Analog Devices during the 1st quarter valued at $39,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Up 2.3%

Shares of NASDAQ ADI opened at $257.92 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $260.74. The stock’s 50-day simple moving average is $239.06 and its 200-day simple moving average is $235.77. The firm has a market cap of $126.89 billion, a price-to-earnings ratio of 65.80, a PEG ratio of 1.98 and a beta of 1.09.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the firm earned $1.67 EPS. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, December 8th. Analog Devices’s payout ratio is 101.02%.

Analyst Ratings Changes

Several analysts have recently issued reports on ADI shares. Truist Financial upped their price objective on Analog Devices from $249.00 to $258.00 and gave the company a “hold” rating in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a report on Tuesday. KeyCorp raised their price target on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Morgan Stanley boosted their price objective on shares of Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Barclays increased their target price on Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $281.87.

Insider Activity at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 1,000 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the transaction, the director directly owned 5,118 shares in the company, valued at $1,242,343.32. This represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the transaction, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 39,750 shares of company stock valued at $9,598,496. 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.