Prio Wealth Limited Partnership Has $917,000 Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Prio Wealth Limited Partnership increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 39.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,986 shares of the semiconductor company’s stock after buying an additional 1,125 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Analog Devices were worth $917,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ADI. New Millennium Group LLC acquired a new stake in Analog Devices during the second quarter worth about $29,000. Riverview Trust Co acquired a new stake in Analog Devices during the first quarter valued at approximately $30,000. ORG Partners LLC boosted its holdings in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC boosted its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices during the second quarter valued at approximately $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ADI shares. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Barclays lifted their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Bank of America reduced their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Trading Down 2.5 %

Shares of Analog Devices stock traded down $5.65 on Monday, hitting $222.68. 314,612 shares of the company’s stock traded hands, compared to its average volume of 3,236,517. The firm’s 50-day moving average price is $225.95 and its two-hundred day moving average price is $221.21. The stock has a market capitalization of $110.50 billion, a PE ratio of 53.35, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a one year low of $154.99 and a one year 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 issued its 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. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company posted $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock valued at $20,794,658 in 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.