Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 61,253 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 681.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,237 shares of the semiconductor company's stock after acquiring an additional 61,253 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Analog Devices were worth $14,165,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter valued at approximately $27,000. Menard Financial Group LLC bought a new stake in shares of Analog Devices in the 4th quarter valued at approximately $27,000. Alpine Bank Wealth Management bought a new stake in shares of Analog Devices in the 1st quarter valued at approximately $27,000. N.E.W. Advisory Services LLC bought a new stake in shares of Analog Devices in the 1st quarter valued at approximately $33,000. Finally, North Capital Inc. acquired a new stake in Analog Devices in the 1st quarter worth approximately $36,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the transaction, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

Analog Devices Price Performance

NASDAQ:ADI traded down $2.92 during trading hours on Friday, reaching $221.71. The company had a trading volume of 3,740,478 shares, compared to its average volume of 3,267,364. The stock has a 50-day moving average of $231.54 and a two-hundred day moving average of $215.66. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.73. The firm has a market capitalization of $110.02 billion, a PE ratio of 60.41, a PEG ratio of 2.07 and a beta of 1.05. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.8%. Analog Devices's dividend payout ratio is presently 107.90%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADI shares. Williams Trading set a $260.00 target price on Analog Devices in a report on Friday, May 23rd. Piper Sandler reduced their target price on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Benchmark restated a "buy" rating and issued a $260.00 target price (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Stifel Nicolaus boosted their target price on Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Cowen restated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and an average price target of $258.89.

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.