Soltis Investment Advisors LLC Makes New $1.28 Million Investment in Analog Devices, Inc. (NASDAQ:ADI)

Soltis Investment Advisors LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 5,538 shares of the semiconductor company's stock, valued at approximately $1,275,000.

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

Analyst Ratings Changes

Several research firms recently commented on ADI. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price objective for the company. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Truist Financial decreased their target price on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $249.33.

Analog Devices Stock Performance

Shares of ADI stock traded up $0.60 during mid-day trading on Thursday, hitting $217.72. 2,992,493 shares of the stock were exchanged, compared to its average volume of 3,225,634. The stock has a market capitalization of $108.05 billion, a price-to-earnings ratio of 65.72, a P/E/G ratio of 2.48 and a beta of 1.05. Analog Devices, Inc. has a 12-month low of $181.80 and a 12-month high of $244.14. The stock's fifty day simple moving average is $222.57 and its two-hundred day simple moving average is $225.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

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 net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the previous year, the company posted $2.01 EPS. Analog Devices's revenue was down 10.1% compared to the same quarter last year. On average, analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices's dividend payout ratio (DPR) is 111.85%.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. The trade was a 27.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock valued at $24,754,600. Corporate insiders own 0.31% of the company's stock.

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.