Congress Wealth Management LLC DE Sells 226 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Congress Wealth Management LLC DE reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,166 shares of the semiconductor company’s stock after selling 226 shares during the period. Congress Wealth Management LLC DE’s holdings in Analog Devices were worth $15,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ADI. Mutual Advisors LLC boosted its stake in shares of Analog Devices by 21.4% in the 3rd quarter. Mutual Advisors LLC now owns 2,493 shares of the semiconductor company’s stock valued at $437,000 after purchasing an additional 440 shares in the last quarter. Ancora Advisors LLC boosted its position in Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after buying an additional 57 shares during the period. Gotham Asset Management LLC boosted its position in Analog Devices by 41.2% during the 3rd quarter. Gotham Asset Management LLC now owns 20,700 shares of the semiconductor company’s stock worth $3,624,000 after buying an additional 6,038 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in Analog Devices by 2.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 67,950 shares of the semiconductor company’s stock worth $11,897,000 after buying an additional 1,490 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Analog Devices by 14.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 21,250 shares of the semiconductor company’s stock worth $3,721,000 after buying an additional 2,759 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,121 shares of company stock valued at $8,901,654. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America lifted their target price on shares of Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Cowen lifted their target price on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Jefferies Financial Group assumed coverage on shares of Analog Devices in a research report on Monday, May 13th. They set a “buy” rating and a $250.00 target price on the stock. Cantor Fitzgerald lifted their target price on shares of Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Finally, UBS Group boosted their price target on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.23.

Analog Devices Stock Performance

Shares of ADI stock opened at $225.18 on Tuesday. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $111.74 billion, a PE ratio of 52.61, a price-to-earnings-growth ratio of 3.85 and a beta of 1.08. The firm has a fifty day simple moving average of $220.13 and a two-hundred day simple moving average of $202.72.

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

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

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.