Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management raised its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,130 shares of the semiconductor company's stock after buying an additional 1,689 shares during the quarter. Analog Devices makes up approximately 1.4% of Smith Salley Wealth Management's holdings, making the stock its 19th largest holding. Smith Salley Wealth Management's holdings in Analog Devices were worth $21,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ADI. Charles Schwab Investment Management Inc. increased its stake in Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock worth $623,399,000 after acquiring an additional 39,186 shares during the last quarter. Swiss National Bank increased its position in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock worth $339,012,000 after purchasing an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock valued at $5,264,000 after buying an additional 7,386 shares during the period. Summit Global Investments purchased a new stake in Analog Devices during the third quarter worth approximately $867,000. Finally, Versor Investments LP acquired a new stake in shares of Analog Devices in the third quarter worth $952,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI stock traded up $4.14 during trading hours on Friday, reaching $219.16. The stock had a trading volume of 2,871,098 shares, compared to its average volume of 2,463,744. The firm has a market capitalization of $108.77 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. The firm has a 50-day simple moving average of $215.64 and a 200-day simple moving average of $222.52. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company's stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on ADI. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research note on Wednesday, November 27th. Truist Financial boosted their price target on Analog Devices from $216.00 to $230.00 and gave the stock a "hold" rating in a research note on Friday, January 10th. Barclays dropped their price objective on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $248.70.

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.