Marion Wealth Management Acquires 623 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Marion Wealth Management boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 20,854 shares of the semiconductor company’s stock after purchasing an additional 623 shares during the period. Analog Devices makes up about 1.2% of Marion Wealth Management’s investment portfolio, making the stock its 25th biggest holding. Marion Wealth Management’s holdings in Analog Devices were worth $4,431,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the third quarter valued at approximately $28,000. Archer Investment Corp grew its position in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Peterson Financial Group Inc. bought a new stake in Analog Devices during the 3rd quarter valued at $43,000. Reston Wealth Management LLC acquired a new position in Analog Devices during the third quarter worth $48,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Analog Devices in the third quarter valued at $80,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI traded up $0.58 on Monday, reaching $212.95. 3,959,287 shares of the company’s stock were exchanged, compared to its average volume of 3,109,718. The stock has a fifty day simple moving average of $216.48 and a 200-day simple moving average of $222.88. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market cap of $105.69 billion, a price-to-earnings ratio of 64.73, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 earnings per share. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,000 shares of company stock valued at $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ADI. Wells Fargo & Company started coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Piper Sandler cut their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Truist Financial upped their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $249.48.

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.