17,137 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Advisor Resource Council

Advisor Resource Council acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,137 shares of the semiconductor company’s stock, valued at approximately $3,190,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Segment Wealth Management LLC grew its holdings in shares of Analog Devices by 166.8% in the first quarter. Segment Wealth Management LLC now owns 2,879 shares of the semiconductor company’s stock valued at $581,000 after purchasing an additional 1,800 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew its position in Analog Devices by 2.2% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 4,431 shares of the semiconductor company’s stock worth $894,000 after acquiring an additional 97 shares during the period. Meriwether Wealth & Planning LLC increased its stake in Analog Devices by 16.7% during the first quarter. Meriwether Wealth & Planning LLC now owns 4,104 shares of the semiconductor company’s stock worth $828,000 after acquiring an additional 586 shares during the last quarter. Riverwater Partners LLC acquired a new stake in Analog Devices during the first quarter worth $318,000. Finally, Brady Family Wealth LLC raised its position in Analog Devices by 2.3% in the first quarter. Brady Family Wealth LLC now owns 26,882 shares of the semiconductor company’s stock valued at $5,421,000 after purchasing an additional 598 shares during the period. 86.81% of the stock is 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 on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now directly owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,934 shares of company stock worth $5,807,196. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Cfra Research cut Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, May 22nd. Noble Financial raised shares of Analog Devices to an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Evercore ISI boosted 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, Piper Sandler decreased their price objective on shares of Analog Devices from $240.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $251.75.

Analog Devices Stock Performance

NASDAQ:ADI opened at $229.65 on Friday. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a fifty day simple moving average of $208.56 and a two-hundred day simple moving average of $211.09. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The company has a market cap of $113.96 billion, a price-to-earnings ratio of 62.58, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the firm earned $1.40 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s dividend payout ratio is currently 107.90%.

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.