Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Fortem Financial Group LLC

Fortem Financial Group LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 39.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,281 shares of the semiconductor company’s stock after acquiring an additional 1,771 shares during the quarter. Fortem Financial Group LLC’s holdings in Analog Devices were worth $1,446,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the 3rd quarter valued at $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the second quarter worth $29,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Analog Devices during the second quarter worth $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.33.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares in the company, valued at $18,106,760.49. The trade was a 27.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock worth $22,596,300. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 1.6 %

Shares of ADI opened at $215.61 on Wednesday. The stock has a market capitalization of $107.01 billion, a PE ratio of 65.53, a P/E/G ratio of 2.48 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The company’s 50-day simple moving average is $222.95 and its 200-day simple moving average is $225.88.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 earnings per share. Analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

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.