Executive Wealth Management LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 53,268 shares of the semiconductor company's stock, valued at approximately $12,261,000. Analog Devices accounts for approximately 1.6% of Executive Wealth Management LLC's holdings, making the stock its 17th largest position.
A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in Analog Devices during the 3rd quarter valued at about $28,000. New Millennium Group LLC bought a new position in Analog Devices in the second quarter worth approximately $29,000. ORG Partners LLC raised its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock worth $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC lifted its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock worth $36,000 after buying an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices during the 2nd quarter valued at $37,000. 86.81% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Barclays boosted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 18th. Finally, Truist Financial cut shares of Analog Devices from a "buy" rating to a "hold" rating and decreased their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $249.80.
Get Our Latest Analysis on ADI
Shares of Analog Devices stock opened at $225.80 on Friday. The company has a fifty day simple moving average of $226.61 and a 200-day simple moving average of $224.39. Analog Devices, Inc. has a 12-month low of $166.78 and a 12-month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market cap of $112.11 billion, a price-to-earnings ratio of 67.81, a PEG ratio of 3.14 and a beta of 1.08.
Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business earned $2.49 EPS. The firm's revenue was down 24.8% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is 110.51%.
In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company's stock, valued at $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,495 shares of company stock valued at $25,229,958. Corporate insiders own 0.31% of the company's stock.
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.
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