Drive Wealth Management LLC Purchases 74 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Drive Wealth Management LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,320 shares of the semiconductor company’s stock after purchasing an additional 74 shares during the quarter. Drive Wealth Management LLC’s holdings in Analog Devices were worth $301,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. USA Financial Formulas lifted its holdings in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares in the last quarter. Private Wealth Management Group LLC bought a new position in shares of Analog Devices in the 4th quarter valued at about $29,000. New Millennium Group LLC acquired a new position in Analog Devices during the second quarter worth approximately $29,000. Riverview Trust Co bought a new position in Analog Devices during the first quarter worth $30,000. Finally, ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of several research reports. Truist Financial dropped their price target on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Sanford C. Bernstein raised their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Bank of America dropped their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Jefferies Financial Group initiated 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. Finally, TD Cowen lifted their price target on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $251.45.

Analog Devices Stock Up 1.7 %

Shares of NASDAQ ADI opened at $234.84 on Monday. The company has a market cap of $116.60 billion, a price-to-earnings ratio of 54.87, a PEG ratio of 3.91 and a beta of 1.08. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The stock has a 50-day moving average price of $226.06 and a two-hundred day moving average price of $212.98.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Buying and Selling

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction on 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 transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold 39,107 shares of company stock worth $9,014,710 in the last 90 days. Insiders own 0.31% of the company’s stock.

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.