Parr Mcknight Wealth Management Group LLC Sells 6,097 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Parr Mcknight Wealth Management Group LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,549 shares of the semiconductor company's stock after selling 6,097 shares during the period. Analog Devices makes up 0.9% of Parr Mcknight Wealth Management Group LLC's portfolio, making the stock its 25th biggest position. Parr Mcknight Wealth Management Group LLC's holdings in Analog Devices were worth $6,161,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quotient Wealth Partners LLC boosted its position in shares of Analog Devices by 11.3% during the first quarter. Quotient Wealth Partners LLC now owns 2,465 shares of the semiconductor company's stock worth $497,000 after buying an additional 250 shares during the period. Cornerstone Planning Group LLC boosted its position in Analog Devices by 40.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 305 shares of the semiconductor company's stock worth $62,000 after acquiring an additional 88 shares during the last quarter. Dogwood Wealth Management LLC grew its stake in shares of Analog Devices by 8.1% during the 1st quarter. Dogwood Wealth Management LLC now owns 3,332 shares of the semiconductor company's stock worth $672,000 after acquiring an additional 251 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Analog Devices by 1.8% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 10,791 shares of the semiconductor company's stock worth $2,176,000 after acquiring an additional 196 shares in the last quarter. Finally, Greenleaf Trust raised its holdings in shares of Analog Devices by 1.2% in the first quarter. Greenleaf Trust now owns 12,384 shares of the semiconductor company's stock valued at $2,497,000 after purchasing an additional 142 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Up 1.0%

ADI stock traded up $2.41 during mid-day trading on Thursday, reaching $245.13. The company's stock had a trading volume of 2,428,082 shares, compared to its average volume of 3,606,705. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $248.62. 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 company has a market cap of $121.65 billion, a price-to-earnings ratio of 66.79, a price-to-earnings-growth ratio of 2.24 and a beta of 1.02. The business's 50 day moving average price is $224.07 and its 200 day moving average price is $213.39.

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

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.62%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the company'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 transaction, the director owned 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares of the company's stock, valued at $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 have sold a total of 16,250 shares of company stock valued at $3,143,556 in the last ninety days. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ADI shares. Citigroup reissued a "buy" rating and issued a $290.00 target price (up from $260.00) on shares of Analog Devices in a research note on Monday. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods upgraded Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. KeyCorp increased their price objective on shares of Analog Devices from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Piper Sandler lowered their price target on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. One investment 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.