Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Absher Wealth Management LLC

Absher Wealth Management LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 154,233 shares of the semiconductor company's stock after buying an additional 10,727 shares during the period. Analog Devices makes up about 4.1% of Absher Wealth Management LLC's investment portfolio, making the stock its 8th largest holding. Absher Wealth Management LLC's holdings in Analog Devices were worth $31,104,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Orion Capital Management LLC acquired a new stake in Analog Devices during the 4th quarter worth about $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices in the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $30,000. Finally, Cassady Schiller Wealth Management LLC lifted its position in shares of 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 acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADI. Keefe, Bruyette & Woods upgraded shares of Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. Benchmark reaffirmed a "buy" rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Williams Trading set a $260.00 price target on Analog Devices in a report on Friday, May 23rd. Cantor Fitzgerald raised Analog Devices from a "neutral" rating to an "overweight" rating and upped their price target for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. Finally, Piper Sandler decreased their price objective on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned 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 an average target price of $251.75.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer now owns 142,996 shares of the company's stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,250 shares of company stock valued at $3,143,556. Corporate insiders own 0.33% of the company's stock.

Analog Devices Trading Down 0.1%

Shares of NASDAQ:ADI traded down $0.30 during midday trading on Wednesday, hitting $234.68. The company had a trading volume of 3,548,623 shares, compared to its average volume of 3,576,557. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The firm has a fifty day simple moving average of $211.70 and a 200 day simple moving average of $211.32. The stock has a market cap of $116.46 billion, a price-to-earnings ratio of 63.95, a PEG ratio of 2.17 and a beta of 1.00.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company's revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

About Analog Devices

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.