HB Wealth Management LLC Raises Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

HB Wealth Management LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,875 shares of the semiconductor company’s stock after acquiring an additional 1,112 shares during the period. HB Wealth Management LLC’s holdings in Analog Devices were worth $2,311,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the 3rd quarter valued at $28,000. Archer Investment Corp grew its holdings in Analog Devices by 101.4% during 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 in the last quarter. Peterson Financial Group Inc. acquired a new stake in Analog Devices during the 3rd quarter valued at $43,000. Reston Wealth Management LLC acquired a new stake in Analog Devices during the 3rd quarter valued at $48,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Analog Devices during the 3rd quarter valued at $80,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’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 $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated 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 $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $11,029,300 in the last ninety days. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADI. Truist Financial raised their price target on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Morgan Stanley decreased their price objective 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Trading Up 1.9 %

NASDAQ ADI opened at $219.16 on Monday. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The company has a 50-day simple moving average of $215.64 and a 200-day simple moving average of $222.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a market capitalization of $108.77 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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 firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $2.01 EPS. On average, equities analysts forecast that Analog Devices, Inc. will post 7.09 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. Investors 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 yield of 1.68%. Analog Devices’s dividend payout ratio is presently 111.85%.

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.