Pines Wealth Management LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Pines Wealth Management LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,323 shares of the semiconductor company's stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADI. Federated Hermes Inc. increased its position in shares of Analog Devices by 1.6% in the 2nd quarter. Federated Hermes Inc. now owns 32,016 shares of the semiconductor company's stock worth $7,308,000 after purchasing an additional 495 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Analog Devices by 100.6% in the second quarter. Brown Brothers Harriman & Co. now owns 4,297 shares of the semiconductor company's stock valued at $981,000 after buying an additional 2,155 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in Analog Devices during the second quarter valued at approximately $402,000. Edgestream Partners L.P. acquired a new position in shares of Analog Devices in the 2nd quarter worth approximately $618,000. Finally, Sargent Investment Group LLC bought a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $320,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

NASDAQ:ADI traded down $3.08 during midday trading on Thursday, hitting $215.14. 2,031,626 shares of the stock were exchanged, compared to its average volume of 2,901,781. The business has a 50-day moving average price of $216.19 and a two-hundred day moving average price of $222.69. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $106.77 billion, a price-to-earnings ratio of 65.39, a P/E/G ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter last year, the business posted $2.01 earnings per share. The company's quarterly revenue was down 10.1% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.71%. Analog Devices's dividend payout ratio (DPR) is 111.85%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock valued at $11,029,300. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADI. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price objective on the stock. Cantor Fitzgerald restated a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Morgan Stanley lowered their price objective on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Finally, Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $249.48.

About Analog Devices

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.