Miracle Mile Advisors LLC Increases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Miracle Mile Advisors LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,697 shares of the semiconductor company’s stock after acquiring an additional 102 shares during the period. Miracle Mile Advisors LLC’s holdings in Analog Devices were worth $785,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the third quarter valued at approximately $28,000. Archer Investment Corp boosted its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices during the 3rd quarter valued at $43,000. Reston Wealth Management LLC purchased a new stake in shares of Analog Devices in the 3rd quarter worth about $48,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Analog Devices in the 3rd quarter worth about $80,000. 86.81% of the stock is currently owned by institutional investors.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Morgan Stanley reduced their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $249.48.

Analog Devices Trading Up 1.7 %

Analog Devices stock opened at $218.22 on Thursday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14. The company has a market cap of $108.30 billion, a P/E ratio of 66.33, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $216.19 and a two-hundred day simple moving average of $222.69.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.01 earnings per share. Analysts predict that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date of this dividend was 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 currently 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.