Hennion & Walsh Asset Management Inc. Raises Position in Analog Devices, Inc. (NASDAQ:ADI)

Hennion & Walsh Asset Management Inc. lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,578 shares of the semiconductor company's stock after acquiring an additional 2,894 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Analog Devices were worth $10,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the third quarter valued at approximately $28,000. Archer Investment Corp lifted its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Analog Devices in the third quarter worth about $43,000. Reston Wealth Management LLC purchased a new stake in shares of Analog Devices during the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC purchased a new position in Analog Devices in the 3rd quarter worth approximately $80,000. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a report on Friday, January 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company began coverage on Analog Devices in a research report on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $249.48.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $11,029,300 in the last ninety days. Corporate insiders own 0.31% of the company's stock.

Analog Devices Trading Down 1.5 %

Shares of ADI stock traded down $3.20 during trading hours on Thursday, reaching $215.02. 3,115,984 shares of the stock were exchanged, compared to its average volume of 3,020,998. The firm has a market capitalization of $106.71 billion, a price-to-earnings ratio of 65.36, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company's 50-day moving average price is $216.03 and its 200-day moving average price is $222.66. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the company earned $2.01 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.71%. Analog Devices's payout ratio is currently 111.85%.

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.