HB Wealth Management LLC Has $3.31 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• HB Wealth Management LLC has increased its holdings in Analog Devices, Inc. by 50.7%, owning now 16,393 shares valued at approximately $3.3 million.
• CEO Vincent Roche sold 10,000 shares of Analog Devices stock, representing a 6.54% decrease in his ownership, while insiders sold a total of 16,250 shares valued at over $3.3 million in the past 90 days.
• Research analysts have mixed forecasts for Analog Devices, with a consensus rating of "Moderate Buy" and an average price target of $258.89.

HB Wealth Management LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 50.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,393 shares of the semiconductor company's stock after purchasing an additional 5,518 shares during the quarter. HB Wealth Management LLC's holdings in Analog Devices were worth $3,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its holdings in Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock worth $397,000 after buying an additional 529 shares in the last quarter. Blair William & Co. IL grew its position in shares of Analog Devices by 2.6% during the 4th quarter. Blair William & Co. IL now owns 42,156 shares of the semiconductor company's stock valued at $8,957,000 after buying an additional 1,064 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Analog Devices by 199.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 29,128 shares of the semiconductor company's stock valued at $6,189,000 after buying an additional 19,417 shares during the last quarter. Allstate Corp bought a new stake in shares of Analog Devices during the 4th quarter valued at about $3,122,000. Finally, Schroder Investment Management Group boosted its stake in Analog Devices by 3.5% during the 4th quarter. Schroder Investment Management Group now owns 459,346 shares of the semiconductor company's stock valued at $97,593,000 after purchasing an additional 15,385 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity

In other news, Director Ray Stata sold 3,125 shares of the stock in a transaction on 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 approximately $40,088,010.33. This represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. Benchmark reissued a "buy" rating and set a $260.00 target price (down from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. KeyCorp increased their target price on shares of Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. TD Cowen boosted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Oppenheimer boosted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, UBS Group dropped their price objective on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a research note on Monday, July 7th. Six 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded down $5.56 during mid-day trading on Thursday, hitting $225.55. The company had a trading volume of 1,082,754 shares, compared to its average volume of 3,962,827. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The business's 50-day simple moving average is $231.06 and its 200-day simple moving average is $215.53. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73. The firm has a market cap of $111.93 billion, a P/E ratio of 61.55, a PEG ratio of 2.13 and a beta of 1.02.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is 107.90%.

Analog Devices Company 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.