Analog Devices, Inc. (NASDAQ:ADI) Position Increased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its holdings of Analog Devices, Inc. by 15.1%, owning a total of 26,053 shares valued at approximately $5.25 million after acquiring an additional 3,425 shares.
• Analog Devices reported a quarterly earnings per share of $1.85, exceeding analyst expectations of $1.70, demonstrating a 22.3% year-over-year revenue increase.
• The company recently announced a quarterly dividend of $0.99 per share, representing a 1.74% dividend yield, but also noted a high dividend payout ratio of 107.90%.

Avantax Advisory Services Inc. lifted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 15.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,053 shares of the semiconductor company's stock after purchasing an additional 3,425 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Analog Devices were worth $5,254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Orion Capital Management LLC bought a new position in Analog Devices in the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the 4th quarter worth about $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices in the 1st quarter worth about $27,000. North Capital Inc. bought a new stake in shares of Analog Devices during the first quarter valued at approximately $36,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of Analog Devices by 209.8% during the first quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 128 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares in the company, valued at $40,088,010.33. This represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company's stock.

Analog Devices Trading Down 2.0%

ADI traded down $4.53 during trading on Thursday, hitting $226.58. 898,843 shares of the company's stock were exchanged, compared to its average volume of 3,961,696. 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 1 year low of $158.65 and a 1 year high of $247.73. The stock has a 50 day moving average price of $231.06 and a 200 day moving average price of $215.53. The firm has a market cap of $112.44 billion, a P/E ratio of 61.70, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 18.65% and a return on equity of 9.56%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. Analog Devices's dividend payout ratio is currently 107.90%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADI. Morgan Stanley cut their price target on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Piper Sandler dropped their price objective on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. UBS Group decreased their target price on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating for the company in a research report on Monday, July 7th. Noble Financial upgraded shares of Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods upgraded shares of Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices 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.