B. Riley Wealth Advisors Inc. Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 28.4% in the second quarter, Holdings Channel reports. The institutional investor owned 8,315 shares of the semiconductor company’s stock after selling 3,304 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Analog Devices were worth $1,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADI. New Millennium Group LLC purchased a new stake in Analog Devices during the second quarter worth approximately $29,000. Riverview Trust Co purchased a new stake in shares of Analog Devices during the 1st quarter worth approximately $30,000. ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC grew its position in shares of Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices during the 2nd quarter worth $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Bank of America dropped their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley raised their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, July 16th. Finally, Barclays upped their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The disclosure for this sale can be found here. Insiders have sold 91,495 shares of company stock worth $20,794,658 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 1.8 %

Shares of ADI opened at $227.73 on Thursday. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. 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 firm has a market capitalization of $113.00 billion, a P/E ratio of 53.21, a PEG ratio of 3.75 and a beta of 1.07. The firm’s 50-day moving average is $222.68 and its two-hundred day moving average is $218.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.49 EPS. On average, research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 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.