Hurlow Wealth Management Group Inc. Invests $890,000 in Analog Devices, Inc. $ADI

Hurlow Wealth Management Group Inc. bought a new stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,242 shares of the semiconductor company’s stock, valued at approximately $890,000. Analog Devices makes up about 0.2% of Hurlow Wealth Management Group Inc.’s investment portfolio, making the stock its 28th largest holding.

A number of other large investors also recently modified their holdings of the business. Banque Transatlantique SA acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $26,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Analog Devices in the fourth quarter valued at $27,000. Finally, Evolution Wealth Management Inc. bought a new stake in Analog Devices during the first quarter worth $30,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Down 3.5%

Analog Devices stock opened at $376.63 on Wednesday. The stock has a market cap of $183.45 billion, a P/E ratio of 55.96, a P/E/G ratio of 1.01 and a beta of 1.20. The company has a quick ratio of 1.34, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91. The company’s 50-day moving average price is $390.37 and its two-hundred day moving average price is $370.30.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its earnings results on Wednesday, May 20th. The semiconductor company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.89 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.51 billion. Analog Devices had a return on equity of 14.37% and a net margin of 26.01%.The firm’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.85 earnings per share. As a group, analysts expect that Analog Devices, Inc. will post 12.42 EPS for the current year.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Karen Golz sold 1,000 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $389.83, for a total transaction of $389,830.00. Following the transaction, the director owned 11,019 shares in the company, valued at $4,295,536.77. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Martin Cotter sold 17,594 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $418.00, for a total transaction of $7,354,292.00. Following the completion of the sale, the senior vice president directly owned 56,332 shares of the company’s stock, valued at approximately $23,546,776. The trade was a 23.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 105,274 shares of company stock valued at $42,247,986. Corporate insiders own 0.36% of the company’s stock.

Key Stories Impacting Analog Devices

Here are the key news stories impacting Analog Devices this week:

  • Positive Sentiment: Analysts expect fiscal Q3 earnings of approximately $3.33 per share, compared with $2.05 per share a year earlier. Several highly rated analysts have recently revised their forecasts, supporting expectations for continued earnings growth. Analog Devices likely to report higher Q3 earnings
  • Positive Sentiment: Analog Devices enters the report after record recent revenue, expanding margins and strong free-cash-flow generation. Management previously targeted roughly $3.9 billion of fiscal Q3 revenue and adjusted EPS near $3.30, creating potential for a “beat and raise” reaction if results exceed those targets. Analog Devices stock rises as earnings target approaches
  • Positive Sentiment: The industrial segment continues to benefit from factory modernization, electrification and robotics demand. Wall Street sentiment remains broadly favorable, including Cantor Fitzgerald’s reaffirmed Overweight rating and $550 price target. Can ADI’s industrial segment sustain growth momentum?

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup lifted their price objective on shares of Analog Devices from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. KeyCorp boosted their price target on Analog Devices from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Jefferies Financial Group upped their price objective on Analog Devices from $410.00 to $475.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein reiterated a “market perform” rating and set a $430.00 target price on shares of Analog Devices in a research note on Thursday, May 21st. Finally, Needham & Company LLC boosted their target price on Analog Devices from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $441.00.

Get Our Latest Analysis on Analog Devices

Analog Devices Company Profile

(Free Report)

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

Further Reading

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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