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

Sax Wealth Advisors LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,568 shares of the semiconductor company's stock, valued at approximately $1,395,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new position in Analog Devices during the second quarter worth about $618,000. Ieq Capital LLC lifted its holdings in shares of Analog Devices by 9.1% during the 2nd quarter. Ieq Capital LLC now owns 28,298 shares of the semiconductor company's stock worth $6,459,000 after acquiring an additional 2,352 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Analog Devices by 11.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 84,258 shares of the semiconductor company's stock worth $19,233,000 after acquiring an additional 8,653 shares during the last quarter. Callan Capital LLC grew its holdings in Analog Devices by 14.5% in the second quarter. Callan Capital LLC now owns 2,139 shares of the semiconductor company's stock valued at $488,000 after purchasing an additional 271 shares during the period. Finally, Godshalk Welsh Capital Management Inc. acquired a new position in Analog Devices during the second quarter worth approximately $210,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 21,983 shares of the company's stock, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the 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 sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $11,029,300. Company insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research analyst reports. Truist Financial lifted their price target 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. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and a consensus price target of $247.57.

Analog Devices Stock Up 1.9 %

Shares of NASDAQ:ADI traded up $4.14 during trading on Friday, hitting $219.16. The company's stock had a trading volume of 2,871,098 shares, compared to its average volume of 2,463,744. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The stock's 50-day moving average price is $215.64 and its two-hundred day moving average price is $222.56. The company has a market capitalization of $108.77 billion, a PE ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) 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 firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter in the prior year, the firm posted $2.01 earnings per share. Analog Devices's revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.68%. Analog Devices's payout ratio is 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.