Merit Financial Group LLC Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Merit Financial Group LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 61.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,331 shares of the semiconductor company's stock after buying an additional 3,555 shares during the quarter. Merit Financial Group LLC's holdings in Analog Devices were worth $1,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Midwest Professional Planners LTD. grew its stake in Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after buying an additional 53 shares in the last quarter. Portland Global Advisors LLC grew its position 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 purchasing an additional 53 shares in the last quarter. NTV Asset Management LLC grew its position in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after purchasing an additional 54 shares in the last quarter. Cassady Schiller Wealth Management LLC grew its position in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Lindbrook Capital LLC grew its position in Analog Devices by 1.3% in the fourth quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock worth $1,114,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 86.81% of the company's stock.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of several analyst reports. KGI Securities initiated coverage on shares of Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating for the company. Piper Sandler decreased 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. Citigroup raised their target price on shares of Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Williams Trading set a $260.00 target price on shares of Analog Devices in a research note on Friday, May 23rd. Finally, TD Cowen increased 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $248.63.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $4.22 during trading on Friday, hitting $222.26. 3,246,027 shares of the company's stock were exchanged, compared to its average volume of 3,556,407. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market cap of $110.30 billion, a price-to-earnings ratio of 70.78, a PEG ratio of 2.85 and a beta of 1.00. The business's 50-day simple moving average is $199.12 and its 200 day simple moving average is $210.24. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $1.40 EPS. Analog Devices's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.78%. Analog Devices's 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.