Libra Wealth LLC Purchases Shares of 1,693 Analog Devices, Inc. (NASDAQ:ADI)

Libra Wealth LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,693 shares of the semiconductor company's stock, valued at approximately $341,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Analog Devices during the first quarter worth about $27,000. Mainstream Capital Management LLC acquired a new position in Analog Devices in the 4th quarter valued at $30,000. Finally, Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter valued at about $30,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Up 1.9%

Analog Devices stock traded up $4.51 during trading hours on Wednesday, hitting $245.15. The company had a trading volume of 3,537,719 shares, compared to its average volume of 3,592,334. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. 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 firm has a market capitalization of $121.66 billion, a P/E ratio of 66.80, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02. The firm's fifty day moving average is $217.82 and its 200-day moving average is $212.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced 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. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.40 earnings per share. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.62%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is presently 107.90%.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of the business's 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $3,143,556 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Piper Sandler dropped their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. TD Cowen increased their target price on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Cantor Fitzgerald raised Analog Devices from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods upgraded Analog Devices to an "outperform" rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $251.75.

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.