Analog Devices, Inc. (NASDAQ:ADI) is Absher Wealth Management LLC’s 10th Largest Position

by · The Markets Daily

Absher Wealth Management LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,778 shares of the semiconductor company’s stock after selling 4,822 shares during the period. Analog Devices comprises 3.9% of Absher Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. Absher Wealth Management LLC’s holdings in Analog Devices were worth $29,871,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the 2nd quarter worth $29,000. ORG Partners LLC lifted its position in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC grew its stake in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Hobbs Group Advisors LLC purchased a new stake in Analog Devices in the 2nd quarter worth approximately $37,000. Finally, New Covenant Trust Company N.A. bought a new stake in Analog Devices during the 1st quarter worth approximately $40,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Up 0.8 %

ADI traded up $1.70 on Friday, hitting $224.81. The company had a trading volume of 143,918 shares, compared to its average volume of 3,203,838. The stock has a market capitalization of $111.62 billion, a price-to-earnings ratio of 67.00, a P/E/G ratio of 3.82 and a beta of 1.07. The stock has a fifty day moving average price of $227.24 and a 200-day moving average price of $222.87. Analog Devices, Inc. has a 12-month low of $161.64 and a 12-month high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm earned $2.49 earnings per share. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. Analog Devices’s payout ratio is 110.51%.

Wall Street Analyst Weigh In

ADI has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America decreased their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Morgan Stanley lifted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Check Out Our Latest Report on Analog Devices

Insider Activity

In other news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,495 shares of company stock worth $18,513,858 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Profile

(Free Report)

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.

Featured Stories