Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Decreased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 9.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,354 shares of the semiconductor company’s stock after selling 145 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Analog Devices were worth $309,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after purchasing an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. acquired a new stake in shares of Analog Devices during the 4th quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in shares of Analog Devices during the 4th quarter valued at $850,000. Capital International Investors increased its stake in shares of Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after acquiring an additional 246,799 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in shares of Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after acquiring an additional 208,522 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock traded down $5.42 during trading hours on Friday, hitting $213.64. The stock had a trading volume of 3,437,085 shares, compared to its average volume of 3,368,705. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a market cap of $106.01 billion, a PE ratio of 49.92, a price-to-earnings-growth ratio of 3.91 and a beta of 1.07. The company has a 50-day moving average of $225.39 and a two-hundred day moving average of $213.97. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period last year, the business earned $2.49 earnings per share. On average, equities research analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analyst Upgrades and Downgrades

ADI has been the topic of several research reports. Citigroup upped their target price on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. The Goldman Sachs Group boosted their target price on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Robert W. Baird raised their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $251.45.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The disclosure for this sale can be found here. Insiders sold a total of 49,107 shares of company stock worth $11,301,610 over the last quarter. Company insiders own 0.31% of the company’s stock.

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.