Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 271,965 shares of the semiconductor company’s stock after acquiring an additional 1,055 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Analog Devices were worth $62,599,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Analog Devices in the third quarter valued at $28,000. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices during the third quarter worth about $43,000. Reston Wealth Management LLC acquired a new stake in shares of Analog Devices during the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Analog Devices during the third quarter worth about $80,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’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 transaction of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $11,029,300 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Wells Fargo & Company started coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.48.

Analog Devices Stock Down 3.7 %

ADI stock opened at $212.37 on Friday. The company’s 50 day simple moving average is $216.48 and its 200-day simple moving average is $222.97. The firm has a market capitalization of $105.40 billion, a PE ratio of 64.55, a P/E/G ratio of 2.47 and a beta of 1.05. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month 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.

Analog Devices (NASDAQ:ADI) last released its quarterly 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. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.01 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared 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 of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.73%. Analog Devices’s dividend payout ratio is presently 111.85%.

About Analog Devices

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.