Marion Wealth Management Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Marion Wealth Management lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 20,921 shares of the semiconductor company’s stock after buying an additional 67 shares during the quarter. Analog Devices accounts for approximately 1.1% of Marion Wealth Management’s holdings, making the stock its 23rd largest position. Marion Wealth Management’s holdings in Analog Devices were worth $4,219,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ADI. Brighton Jones LLC lifted its holdings in shares of Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after buying an additional 529 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in Analog Devices by 26.6% during the fourth quarter. Foundations Investment Advisors LLC now owns 2,557 shares of the semiconductor company’s stock valued at $543,000 after purchasing an additional 537 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Analog Devices by 7.4% during the fourth quarter. Perigon Wealth Management LLC now owns 3,753 shares of the semiconductor company’s stock valued at $807,000 after purchasing an additional 259 shares in the last quarter. OLD National Bancorp IN raised its stake in Analog Devices by 6.8% during the fourth quarter. OLD National Bancorp IN now owns 14,607 shares of the semiconductor company’s stock valued at $3,103,000 after purchasing an additional 930 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in Analog Devices during the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock worth $8,735,156 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Analog Devices from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Morgan Stanley decreased their price target on shares of Analog Devices from $214.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. TD Cowen upped their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Evercore ISI upped their price target on shares of Analog Devices from $231.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. Finally, Barclays increased their target price on shares of Analog Devices from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.63.

Analog Devices Trading Down 1.3%

NASDAQ ADI opened at $212.99 on Friday. The company’s 50-day moving average price is $198.17 and its 200-day moving average price is $210.03. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market cap of $105.70 billion, a PE ratio of 67.83, a PEG ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.86%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s payout ratio is 107.90%.

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.