Marcum Wealth LLC Has $387,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Marcum Wealth LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,683 shares of the semiconductor company’s stock after selling 81 shares during the period. Marcum Wealth LLC’s holdings in Analog Devices were worth $387,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Saxon Interests Inc. acquired a new stake in Analog Devices during the 3rd quarter worth approximately $1,079,000. First PREMIER Bank boosted its position in Analog Devices by 1,412.1% during the third quarter. First PREMIER Bank now owns 499 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 466 shares during the last quarter. True North Advisors LLC acquired a new stake in Analog Devices during the 3rd quarter worth about $206,000. Sovereign Financial Group Inc. raised its position in shares of Analog Devices by 11.3% in the 3rd quarter. Sovereign Financial Group Inc. now owns 1,444 shares of the semiconductor company’s stock worth $332,000 after acquiring an additional 147 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of Analog Devices by 14.1% in the 3rd quarter. Atomi Financial Group Inc. now owns 2,184 shares of the semiconductor company’s stock valued at $503,000 after purchasing an additional 270 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. 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 91,495 shares of company stock valued at $20,794,658. Company insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

ADI opened at $230.70 on Friday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a market capitalization of $114.48 billion, a price-to-earnings ratio of 53.90, a P/E/G ratio of 3.75 and a beta of 1.07. The firm’s fifty day moving average price is $222.95 and its two-hundred day moving average price is $219.29.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.27 billion. During the same period in the prior year, the firm posted $2.49 EPS. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued 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 1.60%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

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.