Avitas Wealth Management LLC Increases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Avitas Wealth Management LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,900 shares of the semiconductor company’s stock after purchasing an additional 92 shares during the quarter. Avitas Wealth Management LLC’s holdings in Analog Devices were worth $2,953,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Calamos Wealth Management LLC lifted its stake in shares of Analog Devices by 25.5% in the 4th quarter. Calamos Wealth Management LLC now owns 55,138 shares of the semiconductor company’s stock valued at $11,715,000 after purchasing an additional 11,212 shares during the period. GDS Wealth Management raised its holdings in Analog Devices by 314.1% in the fourth quarter. GDS Wealth Management now owns 8,335 shares of the semiconductor company’s stock worth $1,771,000 after purchasing an additional 6,322 shares in the last quarter. Financial Life Planners bought a new position in Analog Devices in the fourth quarter worth $33,000. Catalina Capital Group LLC lifted its position in Analog Devices by 3.5% during the fourth quarter. Catalina Capital Group LLC now owns 3,233 shares of the semiconductor company’s stock valued at $687,000 after buying an additional 108 shares during the period. Finally, Oregon Pacific Wealth Management LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at $215,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Morgan Stanley cut their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Truist Financial lifted their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, 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 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Read Our Latest Analysis on ADI

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

Shares of ADI opened at $206.01 on Wednesday. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The business has a fifty day moving average of $216.06 and a 200 day moving average of $220.94. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market capitalization of $102.20 billion, a P/E ratio of 62.62, a PEG ratio of 2.43 and a beta of 1.04.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.01 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

About Analog Devices

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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