B. Riley Wealth Advisors Inc. Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

B. Riley Wealth Advisors Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 16.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,726 shares of the semiconductor company’s stock after selling 1,893 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Analog Devices were worth $1,931,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Wahed Invest LLC grew its holdings in shares of Analog Devices by 6.6% during the 4th quarter. Wahed Invest LLC now owns 8,507 shares of the semiconductor company’s stock valued at $1,689,000 after purchasing an additional 526 shares during the last quarter. SageView Advisory Group LLC grew its stake in shares of Analog Devices by 54.1% during the fourth quarter. SageView Advisory Group LLC now owns 6,554 shares of the semiconductor company’s stock valued at $1,276,000 after buying an additional 2,300 shares during the last quarter. Gerber LLC purchased a new position in shares of Analog Devices in the fourth quarter worth about $299,000. Tucker Asset Management LLC lifted its stake in shares of Analog Devices by 14.0% in the 4th quarter. Tucker Asset Management LLC now owns 1,089 shares of the semiconductor company’s stock valued at $216,000 after acquiring an additional 134 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in Analog Devices during the 4th quarter valued at about $76,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $235.38 on Wednesday. The company has a 50 day simple moving average of $213.96 and a two-hundred day simple moving average of $200.26. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The company has a market capitalization of $116.80 billion, a price-to-earnings ratio of 55.00, a P/E/G ratio of 3.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company earned $2.83 EPS. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. Analysts expect that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is 85.98%.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of analyst reports. Barclays lifted their price target on Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. TD Cowen upped their price target on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a 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 stock an “outperform” rating in a report on Friday, May 24th. Jefferies Financial Group began coverage on shares of Analog Devices in a research note on Monday, May 13th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Truist Financial raised their target price on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

Insider Activity at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,349 shares of company stock valued at $11,118,356. 0.31% of the stock is 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.