Sovereign Financial Group Inc. Acquires 92 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Sovereign Financial Group Inc. increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,536 shares of the semiconductor company’s stock after purchasing an additional 92 shares during the period. Sovereign Financial Group Inc.’s holdings in Analog Devices were worth $326,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ADI shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial lifted their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $249.48.

Analog Devices Trading Up 1.7 %

Shares of Analog Devices stock opened at $218.22 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $216.19 and a 200 day simple moving average of $222.69. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a market capitalization of $108.30 billion, a P/E ratio of 66.33, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by insiders.

Analog Devices 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.