1,735 Shares in Analog Devices, Inc. (NASDAQ:ADI) Bought by Rockport Wealth LLC

Rockport Wealth LLC purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 1st quarter, Holdings Channel.com reports. The fund purchased 1,735 shares of the semiconductor company’s stock, valued at approximately $343,000.

A number of other large investors have also recently added to or reduced their stakes in ADI. Penobscot Investment Management Company Inc. grew its holdings in Analog Devices by 2.6% during the first quarter. Penobscot Investment Management Company Inc. now owns 12,002 shares of the semiconductor company’s stock worth $2,374,000 after purchasing an additional 305 shares during the period. Bahl & Gaynor Inc. grew its holdings in Analog Devices by 2.8% during the first quarter. Bahl & Gaynor Inc. now owns 290,480 shares of the semiconductor company’s stock worth $57,454,000 after purchasing an additional 8,002 shares during the period. Trustmark National Bank Trust Department grew its holdings in Analog Devices by 7.0% during the first quarter. Trustmark National Bank Trust Department now owns 5,155 shares of the semiconductor company’s stock worth $1,020,000 after purchasing an additional 336 shares during the period. Catalytic Wealth RIA LLC increased its holdings in shares of Analog Devices by 20.6% in the first quarter. Catalytic Wealth RIA LLC now owns 1,869 shares of the semiconductor company’s stock valued at $370,000 after purchasing an additional 319 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Analog Devices in the first quarter valued at about $469,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock traded down $9.72 during midday trading on Tuesday, hitting $230.32. 3,751,997 shares of the company traded hands, compared to its average volume of 3,267,978. The stock has a market cap of $114.29 billion, a price-to-earnings ratio of 54.18, a PEG ratio of 3.90 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The firm’s fifty day moving average price is $231.09 and its 200-day moving average price is $206.98. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm’s revenue was down 33.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.83 EPS. As a group, sell-side analysts forecast 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 dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Champy sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total transaction of $980,910.00. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,487,947.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,642 shares of company stock valued at $10,481,343. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

ADI has been the subject of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, May 23rd. KeyCorp raised their target price on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, July 16th. Truist Financial raised their target price on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

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.