Salvus Wealth Management LLC Acquires 345 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Salvus Wealth Management LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,813 shares of the semiconductor company’s stock after purchasing an additional 345 shares during the quarter. Analog Devices comprises about 2.5% of Salvus Wealth Management LLC’s portfolio, making the stock its 10th biggest position. Salvus Wealth Management LLC’s holdings in Analog Devices were worth $3,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Midwest Professional Planners LTD. lifted its stake in Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after acquiring an additional 53 shares during the last quarter. Portland Global Advisors LLC raised its holdings in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after purchasing an additional 53 shares in the last quarter. NTV Asset Management LLC lifted its position in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 54 shares during the last quarter. Cassady Schiller Wealth Management LLC increased its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Analog Devices by 1.3% during the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock worth $1,114,000 after buying an additional 65 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 over the last ninety days. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADI. Cowen reaffirmed a “buy” rating on shares of Analog Devices in a report on Friday, May 23rd. Citigroup lifted their price objective on shares of Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Evercore ISI increased their price target on Analog Devices from $231.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. KGI Securities initiated coverage on shares of Analog Devices in a research note on Friday, May 23rd. They set a “buy” rating on the stock. Finally, Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $248.63.

Analog Devices Price Performance

ADI stock opened at $218.50 on Thursday. The stock has a 50-day simple moving average of $198.79 and a 200-day simple moving average of $210.18. The firm has a market cap of $108.43 billion, a P/E ratio of 69.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.81%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s payout ratio is currently 107.90%.

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.