Smith Salley Wealth Management Has $26.88 Million Stock Position in Analog Devices, Inc. $ADI

Smith Salley Wealth Management boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,416 shares of the semiconductor company’s stock after purchasing an additional 2,097 shares during the quarter. Analog Devices comprises 1.4% of Smith Salley Wealth Management’s investment portfolio, making the stock its 20th biggest position. Smith Salley Wealth Management’s holdings in Analog Devices were worth $26,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after buying an additional 761,861 shares in the last quarter. State Street Corp increased its stake in Analog Devices by 2.2% in the second quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock valued at $5,549,973,000 after acquiring an additional 506,507 shares during the last quarter. Geode Capital Management LLC raised its position in Analog Devices by 5.7% during the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock valued at $2,770,448,000 after purchasing an additional 633,425 shares in the last quarter. Norges Bank bought a new stake in Analog Devices during the second quarter worth $1,803,377,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Analog Devices by 6.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after purchasing an additional 375,207 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $274.82 on Wednesday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $284.23. The stock has a 50 day moving average of $255.18 and a 200 day moving average of $245.00. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $134.57 billion, a price-to-earnings ratio of 60.27, a PEG ratio of 1.52 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the company earned $1.67 earnings per share. The company’s revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

Analysts Set New Price Targets

Several analysts recently weighed in on ADI shares. Weiss Ratings restated a “buy (b-)” rating on shares of Analog Devices in a research report on Monday. Cfra reaffirmed a “buy” rating and set a $280.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. BNP Paribas began coverage on Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price target for the company. Bank of America upped their target price on Analog Devices from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Piper Sandler set a $290.00 price objective on Analog Devices in a research report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.22.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $279.39, for a total value of $873,093.75. Following the completion of the transaction, the director owned 136,321 shares in the company, valued at approximately $38,086,724.19. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward H. Frank sold 1,000 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the sale, the director directly owned 5,118 shares in the company, valued at $1,242,343.32. This trade represents a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,419 shares of company stock valued at $7,811,917 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.