Godshalk Welsh Capital Management Inc. Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Godshalk Welsh Capital Management Inc. bought a new position in Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 920 shares of the semiconductor company’s stock, valued at approximately $210,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. Capital International Investors increased its position in shares of Analog Devices by 14.3% during the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after acquiring an additional 644,945 shares during the last quarter. American Century Companies Inc. increased its position in shares of 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 valued at $993,293,000 after acquiring an additional 767,534 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Analog Devices by 9.8% during the second quarter. Van ECK Associates Corp now owns 4,053,897 shares of the semiconductor company’s stock valued at $925,342,000 after acquiring an additional 362,874 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

ADI stock opened at $233.45 on Friday. The firm has a market cap of $115.84 billion, a P/E ratio of 54.54, a P/E/G ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The firm’s fifty day moving average is $224.03 and its 200 day moving average is $215.85.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the company posted $2.49 EPS. Analog Devices’s revenue was down 24.8% on a year-over-year basis. Research analysts predict that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the business’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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The disclosure for this sale can be found here. Insiders have sold 31,495 shares of company stock valued at $7,181,458 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ADI shares. Susquehanna increased their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Truist Financial decreased their target price on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus 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.