Wedmont Private Capital Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Wedmont Private Capital boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,323 shares of the semiconductor company’s stock after acquiring an additional 269 shares during the period. Wedmont Private Capital’s holdings in Analog Devices were worth $979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Saxon Interests Inc. purchased a new stake in shares of Analog Devices in the third quarter valued at about $1,079,000. First PREMIER Bank raised its holdings in shares of Analog Devices by 1,412.1% in the third quarter. First PREMIER Bank now owns 499 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 466 shares during the last quarter. True North Advisors LLC purchased a new stake in shares of Analog Devices in the third quarter valued at about $206,000. Sovereign Financial Group Inc. raised its holdings in shares of Analog Devices by 11.3% in the third quarter. Sovereign Financial Group Inc. now owns 1,444 shares of the semiconductor company’s stock valued at $332,000 after buying an additional 147 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its holdings in shares of Analog Devices by 14.1% in the third quarter. Atomi Financial Group Inc. now owns 2,184 shares of the semiconductor company’s stock valued at $503,000 after buying an additional 270 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 1.1 %

ADI stock opened at $230.70 on Friday. The company’s 50 day simple moving average is $222.95 and its 200-day simple moving average is $219.29. The firm has a market capitalization of $114.48 billion, a PE ratio of 53.90, a P/E/G ratio of 3.75 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month 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.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. Analog Devices’s dividend payout ratio is presently 85.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Bank of America dropped their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 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 approximately $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,495 shares of company stock worth $20,794,658 over the last ninety days. 0.31% of the stock is currently owned by insiders.

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.