Oak Harbor Wealth Partners LLC Purchases Shares of 5,106 Analog Devices, Inc. (NASDAQ:ADI)

Oak Harbor Wealth Partners LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,106 shares of the semiconductor company's stock, valued at approximately $1,175,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baader Bank Aktiengesellschaft grew its position in shares of Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company's stock valued at $259,000 after purchasing an additional 43 shares during the last quarter. Grove Bank & Trust increased its position in Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock worth $333,000 after buying an additional 43 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. boosted its stake in shares of Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock valued at $795,000 after acquiring an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC increased its position in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock worth $455,000 after purchasing an additional 48 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company's stock, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 500 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company's stock, valued at $1,078,935.52. The trade was a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock valued at $25,229,958 over the last three months. Company insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADI shares. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer reissued an "outperform" rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, July 18th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.

Analog Devices Stock Performance

NASDAQ:ADI traded down $5.89 during trading hours on Friday, reaching $206.35. 3,880,957 shares of the stock were exchanged, compared to its average volume of 3,218,283. The stock has a market capitalization of $102.45 billion, a P/E ratio of 63.09, a P/E/G ratio of 2.98 and a beta of 1.08. The firm has a 50 day simple moving average of $226.02 and a 200-day simple moving average of $224.94. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $178.66 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm's revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the business posted $2.49 earnings per share. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.78%. Analog Devices's dividend payout ratio is currently 110.51%.

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.