Wealthspire Advisors LLC Sells 749 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wealthspire Advisors LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,042 shares of the semiconductor company’s stock after selling 749 shares during the period. Wealthspire Advisors LLC’s holdings in Analog Devices were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. 9258 Wealth Management LLC boosted its position in shares of Analog Devices by 3.9% in the fourth quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock valued at $444,000 after acquiring an additional 85 shares during the period. Foundations Investment Advisors LLC boosted its holdings in Analog Devices by 14.7% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,720 shares of the semiconductor company’s stock valued at $330,000 after purchasing an additional 220 shares during the period. Level Four Advisory Services LLC grew its position in shares of Analog Devices by 17.3% during the 4th quarter. Level Four Advisory Services LLC now owns 2,082 shares of the semiconductor company’s stock worth $413,000 after purchasing an additional 307 shares in the last quarter. Main Street Financial Solutions LLC acquired a new position in shares of Analog Devices during the 4th quarter worth approximately $283,000. Finally, Norges Bank bought a new position in shares of Analog Devices during the fourth quarter worth approximately $1,225,227,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. Insiders sold a total of 31,495 shares of company stock valued at $7,181,458 in the last three months. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $225.42 on Monday. The firm has a market capitalization of $111.86 billion, a price-to-earnings ratio of 52.67, a PEG ratio of 3.74 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $224.69 and its 200-day moving average price is $215.25. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS 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 business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the company earned $2.49 EPS. The firm’s revenue was down 24.8% compared to the same quarter last year. Equities research analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

The business 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 $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. Analog Devices’s payout ratio is 85.98%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADI. KeyCorp boosted their price target on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein increased their target price on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Citigroup raised their price target on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays upped their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $251.45.

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.