Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.1% during the first quarter, Holdings Channel reports. The firm owned 3,485 shares of the semiconductor company’s stock after selling 112 shares during the period. SteelPeak Wealth LLC’s holdings in Analog Devices were worth $689,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Amarillo National Bank boosted its stake in shares of Analog Devices by 3.7% in the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after buying an additional 54 shares during the last quarter. Mcdonald Partners LLC boosted its stake in shares of Analog Devices by 0.7% in the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock worth $1,497,000 after buying an additional 54 shares during the last quarter. Keystone Financial Services boosted its stake in shares of Analog Devices by 1.8% in the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock worth $623,000 after buying an additional 55 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of Analog Devices by 2.1% in the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after buying an additional 57 shares during the last quarter. Finally, Legacy Advisors LLC boosted its stake in shares of Analog Devices by 2.3% in the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after buying an additional 59 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,121 shares of company stock valued at $10,875,654. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADI. Morgan Stanley upped their target price on Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. TD Cowen increased their price target on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Robert W. Baird increased their price target on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. The Goldman Sachs Group increased their price target on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, KeyCorp increased their price target on Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.23.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $1.58 during midday trading on Friday, hitting $228.26. The company had a trading volume of 3,634,130 shares, compared to its average volume of 3,017,578. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $241.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market cap of $113.27 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 3.85 and a beta of 1.12. The business’s 50-day simple moving average is $220.13 and its 200-day simple moving average is $202.72.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the firm earned $2.83 earnings per share. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, research analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. Analog Devices’s dividend payout ratio is presently 85.98%.

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.