Analog Devices, Inc. $ADI Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,265 shares of the semiconductor company’s stock after selling 2,341 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.06% of Analog Devices worth $63,876,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Howard Hughes Medical Institute purchased a new stake in Analog Devices during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC bought a new position in Analog Devices during the 2nd quarter valued at $26,000. Clayton Financial Group LLC acquired a new position in Analog Devices during the 3rd quarter worth $31,000. Sound Income Strategies LLC raised its stake in shares of Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 95 shares in the last quarter. Finally, Access Investment Management LLC bought a new stake in Analog Devices in the second quarter valued at about $45,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the transaction, the chief executive officer directly owned 155,688 shares of the company’s stock, valued at $42,825,098.16. The trade was a 6.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,544 shares of company stock valued at $14,328,561 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded down $2.64 during trading on Tuesday, reaching $297.61. The stock had a trading volume of 279,983 shares, compared to its average volume of 3,461,562. The firm has a market capitalization of $145.72 billion, a price-to-earnings ratio of 65.25, a P/E/G ratio of 1.62 and a beta of 1.03. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $309.17. The stock has a fifty day simple moving average of $270.62 and a two-hundred day simple moving average of $250.48.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. The firm’s revenue was up 25.9% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADI. Piper Sandler set a $290.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Analog Devices in a research report on Monday, December 29th. Sanford C. Bernstein restated a “market perform” rating and issued a $270.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Barclays set a $315.00 target price on shares of Analog Devices in a report on Thursday. Finally, Bank of America increased their price target on Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $305.52.

Analog Devices Company Profile

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.