Larson Financial Group LLC Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Larson Financial Group LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 103.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 448 shares of the semiconductor company’s stock after purchasing an additional 228 shares during the quarter. Larson Financial Group LLC’s holdings in Analog Devices were worth $103,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ADI. Raymond James & Associates grew its stake in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares during the period. International Assets Investment Management LLC grew its stake in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after buying an additional 883,888 shares during the period. American Century Companies Inc. grew its stake in Analog Devices by 21.4% during the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after buying an additional 767,534 shares during the period. Van ECK Associates Corp grew its stake in Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after buying an additional 700,862 shares during the period. Finally, Marshall Wace LLP grew its stake in Analog Devices by 383.3% during the second quarter. Marshall Wace LLP now owns 670,269 shares of the semiconductor company’s stock worth $152,996,000 after buying an additional 531,597 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the transaction, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,000 shares of company stock worth $24,883,200. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ADI shares. Truist Financial decreased their price objective on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research note on Wednesday. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley reduced their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Stock Performance

Shares of ADI opened at $217.17 on Friday. The firm has a 50-day moving average price of $224.32 and a 200 day moving average price of $225.80. The firm has a market capitalization of $107.82 billion, a PE ratio of 66.01, a P/E/G ratio of 3.15 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $179.63 and a 52-week high of $244.14.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a $0.92 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. Analog Devices’s dividend payout ratio is presently 111.85%.

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.