FORVIS Wealth Advisors LLC Acquires 491 Shares of Analog Devices, Inc. (NASDAQ:ADI)

FORVIS Wealth Advisors LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 29.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,162 shares of the semiconductor company’s stock after purchasing an additional 491 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Analog Devices were worth $428,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its holdings in shares of Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the period. USA Financial Formulas boosted its holdings in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares during the period. Silver Oak Securities Incorporated acquired a new stake in shares of Analog Devices in the third quarter valued at about $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices in the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Analog Devices during the 4th quarter worth about $29,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the 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 owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,642 shares of company stock valued at $10,481,343. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADI has been the topic of a number of research analyst reports. Robert W. Baird raised their target price on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. TD Cowen boosted 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. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, May 23rd. Oppenheimer boosted their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, Bank of America increased their target price on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Analog Devices Trading Down 0.7 %

Analog Devices stock traded down $1.51 during mid-day trading on Friday, hitting $228.51. 150,133 shares of the company’s stock were exchanged, compared to its average volume of 3,284,500. 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 quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $113.39 billion, a P/E ratio of 53.74, a PEG ratio of 3.88 and a beta of 1.08. The company’s 50 day simple moving average is $222.98 and its 200-day simple moving average is $203.47.

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

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.61%. Analog Devices’s dividend payout ratio is currently 85.98%.

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.