Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.91 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 30.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,984 shares of the semiconductor company’s stock after buying an additional 2,071 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Analog Devices were worth $1,909,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $28,000. Archer Investment Corp raised its position in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Analog Devices in the 3rd quarter valued at approximately $43,000. Reston Wealth Management LLC acquired a new position in Analog Devices during the 3rd quarter worth approximately $48,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $80,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $215.42 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market cap of $106.88 billion, a price-to-earnings ratio of 65.48, a P/E/G ratio of 2.57 and a beta of 1.05. The stock’s fifty day moving average price is $216.42 and its two-hundred day moving average price is $222.09. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the firm earned $2.01 earnings per share. On average, equities analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.71%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’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 $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on ADI shares. Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Truist Financial increased their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

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.