Congress Wealth Management LLC DE Has $15.37 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Congress Wealth Management LLC DE lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,392 shares of the semiconductor company’s stock after selling 738 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Analog Devices were worth $15,367,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its holdings in Analog Devices by 2.3% in the 4th quarter. Advisory Services Network LLC now owns 27,149 shares of the semiconductor company’s stock valued at $5,391,000 after buying an additional 606 shares during the period. ProVise Management Group LLC increased its stake in Analog Devices by 5.1% in the fourth quarter. ProVise Management Group LLC now owns 61,632 shares of the semiconductor company’s stock valued at $12,238,000 after acquiring an additional 3,015 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Analog Devices by 133.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 50,749 shares of the semiconductor company’s stock valued at $9,591,000 after purchasing an additional 29,023 shares in the last quarter. Team Hewins LLC acquired a new position in Analog Devices during the fourth quarter valued at approximately $461,000. Finally, Cypress Asset Management Inc. TX bought a new stake in Analog Devices during the fourth quarter worth $6,148,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,075,098.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,707 shares of company stock worth $4,874,613. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI assumed coverage on Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. Stifel Nicolaus increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Morgan Stanley raised their price target on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Oppenheimer upped their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.42.

Analog Devices Trading Down 0.9 %

Shares of Analog Devices stock traded down $2.05 on Friday, hitting $232.51. 4,544,312 shares of the company’s stock traded hands, compared to its average volume of 3,265,739. The company has a fifty day moving average of $200.67 and a two-hundred day moving average of $193.49. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $241.88. The company has a market capitalization of $115.38 billion, a price-to-earnings ratio of 54.32, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue was down 33.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.83 earnings per share. As a group, sell-side analysts expect that Analog Devices, Inc. will post 5.93 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

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.