Prosperity Consulting Group LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Prosperity Consulting Group LLC has taken a new stake in Analog Devices, Inc., acquiring 1,242 shares valued at approximately $250,000.
• Analog Devices reported quarterly earnings of $1.85 per share, exceeding analysts' estimates of $1.70, with a revenue of $2.64 billion, up 22.3% year-over-year.
• The company declared a quarterly dividend of $0.99 per share, representing an annualized yield of 1.71% and a payout ratio of 107.90%.

Prosperity Consulting Group LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,242 shares of the semiconductor company's stock, valued at approximately $250,000.

Several other institutional investors also recently bought and sold shares of ADI. Orion Capital Management LLC purchased a new position in Analog Devices in the fourth quarter worth $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the fourth quarter valued at $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices in the first quarter valued at $27,000. North Capital Inc. purchased a new stake in Analog Devices in the first quarter valued at $36,000. Finally, Wolff Wiese Magana LLC boosted its holdings in Analog Devices by 209.8% in the first quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 128 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the transaction, the director directly owned 167,571 shares in the company, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADI. TD Cowen upped their price target on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Oppenheimer upped their price target on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Barclays upped their price target on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. The Goldman Sachs Group initiated coverage on shares of Analog Devices in a report on Thursday, July 10th. They issued a "buy" rating and a $285.00 price objective for the company. Finally, Piper Sandler cut their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Stock Down 1.3%

Shares of Analog Devices stock traded down $2.92 during trading on Friday, hitting $221.71. 3,740,478 shares of the stock were exchanged, compared to its average volume of 3,267,364. The stock has a market cap of $110.02 billion, a price-to-earnings ratio of 60.41, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05. The firm's 50-day moving average price is $231.54 and its 200 day moving average price is $215.66. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the business earned $1.40 EPS. Analog Devices's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.8%. Analog Devices's payout ratio is currently 107.90%.

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.