Keystone Financial Services Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Keystone Financial Services raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,791 shares of the semiconductor company’s stock after purchasing an additional 61 shares during the quarter. Keystone Financial Services’ holdings in Analog Devices were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Midwest Professional Planners LTD. boosted its holdings in Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after purchasing an additional 53 shares in the last quarter. Portland Global Advisors LLC boosted its holdings in Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after purchasing an additional 53 shares in the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Analog Devices by 14.8% in the 1st quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company’s stock valued at $89,000 after purchasing an additional 57 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock valued at $1,114,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ADI shares. Wells Fargo & Company set a $235.00 price target on Analog Devices and gave the stock an “equal weight” rating in a research note on Monday, June 16th. Piper Sandler decreased their price target on Analog Devices from $240.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Citigroup boosted their price target on Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. UBS Group decreased their price target on Analog Devices from $295.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Finally, KGI Securities started coverage on Analog Devices in a research note on Friday, May 23rd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.75.

Analog Devices Trading Up 1.2%

Shares of ADI opened at $230.98 on Tuesday. The stock has a fifty day moving average of $210.60 and a two-hundred day moving average of $211.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The company has a market capitalization of $114.62 billion, a PE ratio of 62.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. Analog Devices’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.71%. Analog Devices’s dividend payout ratio (DPR) is presently 107.90%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,250 shares of company stock worth $3,143,556. Insiders own 0.33% of the company’s stock.

Analog Devices Company 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.