Ashton Thomas Securities LLC Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Ashton Thomas Securities LLC boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 50.9% in the third quarter, Holdings Channel.com reports. The firm owned 1,441 shares of the semiconductor company’s stock after acquiring an additional 486 shares during the period. Ashton Thomas Securities LLC’s holdings in Analog Devices were worth $332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices in the 2nd quarter valued at approximately $29,000. ORG Partners LLC boosted its stake in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. CVA Family Office LLC grew its position in shares of 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 in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices in the second quarter worth $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $220.47 on Tuesday. The firm has a market capitalization of $109.46 billion, a PE ratio of 66.21, a P/E/G ratio of 3.17 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $226.61 and a 200 day moving average price of $224.83. Analog Devices, Inc. has a 52-week low of $170.10 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm posted $2.49 earnings per share. The business’s revenue was down 24.8% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.67%. Analog Devices’s payout ratio is 110.51%.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,495 shares of company stock worth $25,229,958. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Barclays boosted their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.