Parr Mcknight Wealth Management Group LLC Invests $7.79 Million in Analog Devices, Inc. (NASDAQ:ADI)

Parr Mcknight Wealth Management Group LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 36,646 shares of the semiconductor company's stock, valued at approximately $7,786,000. Analog Devices accounts for about 1.1% of Parr Mcknight Wealth Management Group LLC's portfolio, making the stock its 19th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Midwest Professional Planners LTD. boosted its holdings 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 purchasing an additional 53 shares in the last quarter. Portland Global Advisors LLC boosted its holdings in Analog Devices by 1.3% in 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 boosted its holdings in Analog Devices by 2.7% in 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 boosted its holdings in Analog Devices by 63.2% in the 4th 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 in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock valued at $1,114,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred 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 sale, the director now owns 180,071 shares of the company's stock, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,934 shares of company stock worth $8,735,156. Corporate insiders own 0.33% of the company's stock.

Analog Devices Stock Down 4.6%

Shares of Analog Devices stock opened at $211.93 on Friday. The business has a 50-day moving average of $197.63 and a 200-day moving average of $210.41. 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 capitalization of $105.11 billion, a PE ratio of 67.49, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The company 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 8.91% and a net margin of 16.75%. The company's revenue was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analog Devices Dividend Announcement

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 paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.87%. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group decreased their price target on Analog Devices from $300.00 to $295.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Citigroup upped their target price on Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Monday. Seaport Res Ptn raised Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. Oppenheimer increased their price target on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, Analog Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $252.35.

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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