Maxwell Wealth Strategies Inc. Acquires Shares of 6,183 Analog Devices, Inc. (NASDAQ:ADI)

Maxwell Wealth Strategies Inc. bought a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,183 shares of the semiconductor company's stock, valued at approximately $1,345,000.

A number of other institutional investors also recently modified their holdings of ADI. Nwam LLC grew its position in shares of Analog Devices by 37.9% during the 1st quarter. Nwam LLC now owns 1,448 shares of the semiconductor company's stock worth $292,000 after buying an additional 398 shares during the period. Banco Santander S.A. acquired a new stake in shares of Analog Devices during the 1st quarter worth approximately $435,000. Spirepoint Private Client LLC acquired a new stake in shares of Analog Devices during the 1st quarter worth approximately $575,000. TIAA Trust National Association grew its position in shares of Analog Devices by 1.7% during the 1st quarter. TIAA Trust National Association now owns 21,866 shares of the semiconductor company's stock worth $4,325,000 after buying an additional 360 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Analog Devices during the 1st quarter worth approximately $469,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

ADI traded down $5.89 during trading on Friday, hitting $206.35. 3,880,962 shares of the stock traded hands, compared to its average volume of 3,218,283. Analog Devices, Inc. has a twelve month low of $178.66 and a twelve month high of $244.14. The company has a market cap of $102.45 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The business has a 50 day moving average price of $225.88 and a 200 day moving average price of $224.95.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during 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 was down 24.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.49 earnings per share. Equities research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Analyst Ratings Changes

ADI has been the subject of a number of analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America decreased their price objective on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a "buy" rating to a "hold" rating and cut their price target for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $249.80.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares of the company's stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the company's 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 sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last 90 days. 0.31% of the stock is owned by insiders.

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.