Smith Salley Wealth Management Acquires 1,188 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Smith Salley Wealth Management grew its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,318 shares of the semiconductor company's stock after purchasing an additional 1,188 shares during the period. Analog Devices makes up 1.4% of Smith Salley Wealth Management's portfolio, making the stock its 22nd biggest position. Smith Salley Wealth Management's holdings in Analog Devices were worth $21,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ADI. Brighton Jones LLC increased its holdings in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after acquiring an additional 529 shares during the last quarter. Maia Wealth LLC lifted its stake in shares of Analog Devices by 25.6% in the fourth quarter. Maia Wealth LLC now owns 1,980 shares of the semiconductor company's stock worth $427,000 after buying an additional 403 shares during the last quarter. Norden Group LLC lifted its stake in shares of Analog Devices by 4.3% in the fourth quarter. Norden Group LLC now owns 2,456 shares of the semiconductor company's stock worth $522,000 after buying an additional 101 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Analog Devices by 28.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 393 shares of the semiconductor company's stock worth $83,000 after buying an additional 88 shares during the period. Finally, Modera Wealth Management LLC bought a new stake in Analog Devices during the fourth quarter valued at about $227,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ADI. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Noble Financial upgraded shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Benchmark reissued a "buy" rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Finally, Wells Fargo & Company set a $235.00 target price on Analog Devices and gave the stock an "equal weight" rating in a report on Monday, June 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Stock Up 1.9%

Shares of ADI stock traded up $4.51 during trading hours on Wednesday, reaching $245.15. The company had a trading volume of 3,537,719 shares, compared to its average volume of 3,592,334. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The business has a fifty day simple moving average of $217.82 and a 200-day simple moving average of $212.02. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a market cap of $121.66 billion, a price-to-earnings ratio of 66.80, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data 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. The firm 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 9.56% and a net margin of 18.65%. The business's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred 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 trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director directly owned 180,071 shares of the company's stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $3,143,556 in the last three months. Insiders own 0.33% of the company's stock.

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.