Caliber Wealth Management LLC KS Buys Shares of 12,668 Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Caliber Wealth Management LLC purchased 12,668 shares of Analog Devices, Inc. for approximately $2.55 million, marking a significant new investment in the semiconductor company during the first quarter.
• Wall Street analysts have a predominantly positive outlook on Analog Devices, with 20 buy ratings and a target price range upgrade, reflecting confidence in the company's growth prospects.
• Insider trading activity included notable sales by both the Director and CEO, with a combined total of 16,250 shares sold in the last ninety days, showcasing ongoing fluctuations in insider ownership.

Caliber Wealth Management LLC KS purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,668 shares of the semiconductor company's stock, valued at approximately $2,555,000.

A number of other institutional investors have also modified their holdings of ADI. Portland Global Advisors LLC raised its holdings in shares of Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after buying an additional 53 shares during the period. Continuum Advisory LLC grew its position in Analog Devices by 14.8% in the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock valued at $89,000 after acquiring an additional 57 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Analog Devices by 0.4% during the first quarter. Proficio Capital Partners LLC now owns 14,523 shares of the semiconductor company's stock valued at $2,929,000 after purchasing an additional 58 shares during the period. Alps Advisors Inc. increased its stake in Analog Devices by 1.1% during the 1st quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock worth $1,147,000 after buying an additional 60 shares during the period. Finally, Keystone Financial Services lifted its stake in shares of Analog Devices by 1.6% in the first quarter. Keystone Financial Services now owns 3,791 shares of the semiconductor company's stock worth $765,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADI shares. KeyCorp increased their price objective on shares of Analog Devices from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Barclays boosted their price objective on Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Benchmark restated a "buy" rating and set a $260.00 target price (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. The Goldman Sachs Group started coverage on Analog Devices in a report on Thursday, July 10th. They set a "buy" rating and a $285.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on shares of Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Six research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $258.89.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director owned 167,571 shares in the company, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer owned 142,996 shares of the company's stock, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,250 shares of company stock valued at $3,327,994. Insiders own 0.33% of the company's stock.

Analog Devices Trading Down 0.7%

Shares of ADI stock opened at $226.37 on Friday. The firm has a market capitalization of $112.34 billion, a P/E ratio of 61.68, a price-to-earnings-growth ratio of 2.10 and a beta of 1.02. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The firm's fifty day simple moving average is $230.62 and its 200 day simple moving average is $215.17. 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 (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business's revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.