CWA Asset Management Group LLC Invests $736,000 in Analog Devices, Inc. (NASDAQ:ADI)

CWA Asset Management Group LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,197 shares of the semiconductor company's stock, valued at approximately $736,000.

Other institutional investors also recently modified their holdings of the company. Swedbank AB acquired a new stake in Analog Devices in the 1st quarter valued at $537,171,000. Vanguard Group Inc. increased its position in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company's stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock worth $346,834,000 after acquiring an additional 1,753,536 shares in the last quarter. Raymond James & Associates boosted its position in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock valued at $540,463,000 after purchasing an additional 1,422,054 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Oppenheimer reiterated an "outperform" rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. 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. Truist Financial lowered shares of Analog Devices from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley boosted their price target on Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and an average price target of $249.80.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company's stock, valued at $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by corporate insiders.

Analog Devices Trading Down 2.6 %

NASDAQ:ADI traded down $5.88 during trading hours on Monday, hitting $219.92. 1,566,565 shares of the company were exchanged, compared to its average volume of 3,203,467. The stock has a market capitalization of $109.19 billion, a price-to-earnings ratio of 67.81, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. The company has a fifty day simple moving average of $226.61 and a 200 day simple moving average of $224.83. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a one year low of $170.10 and a one year high of $244.14.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.67%. Analog Devices's dividend payout ratio is currently 110.51%.

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.