Larson Financial Group LLC Purchases 2,235 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Larson Financial Group LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 394.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,801 shares of the semiconductor company's stock after purchasing an additional 2,235 shares during the quarter. Larson Financial Group LLC's holdings in Analog Devices were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADI. Orion Capital Management LLC acquired a new position in Analog Devices in the 4th quarter worth about $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices in the first quarter worth $27,000. North Capital Inc. bought a new position in shares of Analog Devices in the first quarter worth $36,000. Finally, Wolff Wiese Magana LLC lifted its stake in Analog Devices by 209.8% during the first quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 transaction, the chief executive officer owned 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director owned 180,071 shares in the company, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Analog Devices Price Performance

Analog Devices stock opened at $240.97 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $229.40 and a 200-day moving average of $214.47. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The firm has a market capitalization of $119.58 billion, a P/E ratio of 65.66, a PEG ratio of 2.22 and a beta of 1.02.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.64%. Analog Devices's dividend payout ratio is currently 107.90%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADI. Citigroup reaffirmed a "buy" rating and set a $290.00 price target (up previously from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. Piper Sandler reduced their target price on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Evercore ISI increased their price target on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Williams Trading set a $260.00 price target on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Cowen reissued a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $257.67.

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.

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