Spire Wealth Management Has $582,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Spire Wealth Management reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 90.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,548 shares of the semiconductor company’s stock after selling 25,525 shares during the period. Spire Wealth Management’s holdings in Analog Devices were worth $582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Analog Devices by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after acquiring an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. bought a new position in shares of Analog Devices during the 4th quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices in the 4th quarter valued at $850,000. Capital International Investors boosted its holdings in Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after purchasing an additional 246,799 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its position in Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after buying an additional 208,522 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of ADI stock opened at $234.84 on Monday. The stock’s fifty day simple moving average is $226.06 and its 200 day simple moving average is $212.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The firm has a market cap of $116.60 billion, a price-to-earnings ratio of 54.87, a P/E/G ratio of 3.91 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the firm earned $2.49 earnings per share. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Edward H. Frank sold 500 shares of the firm’s 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 transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. The disclosure for this sale can be found here. Insiders have sold a total of 39,107 shares of company stock valued at $9,014,710 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADI has been the subject of several recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. KeyCorp upped their target price on Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. 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. Susquehanna lifted their price objective on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. Finally, Sanford C. Bernstein increased their target price on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $251.45.

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.