Parr Mcknight Wealth Management Group LLC Trims Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Parr Mcknight Wealth Management Group LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 30,549 shares of the semiconductor company's stock after selling 6,097 shares during the quarter. Analog Devices accounts for approximately 0.9% of Parr Mcknight Wealth Management Group LLC's portfolio, making the stock its 25th largest holding. Parr Mcknight Wealth Management Group LLC's holdings in Analog Devices were worth $6,161,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in shares of Analog Devices during the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices during the fourth quarter valued at about $27,000. Alpine Bank Wealth Management bought a new position in Analog Devices during the first quarter worth about $27,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC raised its position in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 55 shares during the period. Institutional investors own 86.81% of the company's stock.

Analog Devices Trading Down 0.2%

Shares of Analog Devices stock traded down $0.45 during trading on Friday, reaching $244.68. The company's stock had a trading volume of 2,035,790 shares, compared to its average volume of 3,602,437. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.73. The company has a market cap of $121.42 billion, a price-to-earnings ratio of 66.67, a PEG ratio of 2.26 and a beta of 1.02. The firm's 50-day moving average is $226.02 and its two-hundred day moving average is $213.78. 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 posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business posted $1.40 EPS. The firm's revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

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

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the transaction, the director owned 180,071 shares of the company's stock, valued at $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $3,143,556 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ADI. KeyCorp lifted their price objective on shares of Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday. Cfra Research cut Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Evercore ISI increased their price objective on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating 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. Finally, Benchmark reiterated a "buy" rating and set a $260.00 price target (down from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $257.67.

Analog Devices 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.