Wealth Alliance LLC Buys 1,042 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wealth Alliance LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 40.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,591 shares of the semiconductor company's stock after acquiring an additional 1,042 shares during the quarter. Wealth Alliance LLC's holdings in Analog Devices were worth $724,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADI. Orion Capital Management LLC bought a new stake in Analog Devices during the 4th quarter worth about $27,000. Menard Financial Group LLC bought a new stake in Analog Devices during the 4th quarter worth about $27,000. Alpine Bank Wealth Management bought a new stake in Analog Devices during the 1st quarter worth about $27,000. North Capital Inc. bought a new stake in Analog Devices during the 1st quarter worth about $36,000. Finally, Wolff Wiese Magana LLC grew its holdings in Analog Devices by 209.8% during the 1st quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 128 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director directly owned 167,571 shares of the company's stock, valued at $40,088,010.33. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,250 shares of company stock worth $3,327,994. Company insiders own 0.33% of the company's stock.

Analog Devices Stock Up 0.4%

Shares of NASDAQ ADI opened at $241.85 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73. The stock has a market capitalization of $120.02 billion, a P/E ratio of 65.90, a PEG ratio of 2.23 and a beta of 1.02. The stock's fifty day moving average is $230.08 and its 200 day moving average is $214.71.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the business earned $1.40 earnings per share. Analog Devices's revenue was up 22.3% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio is presently 107.90%.

Analyst Ratings Changes

A number of brokerages have commented on ADI. Barclays increased their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Piper Sandler dropped their price objective on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Williams Trading set a $260.00 price objective on Analog Devices in a report on Friday, May 23rd. Stifel Nicolaus boosted their price objective on Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a report on Friday. Finally, Noble Financial raised Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $258.89.

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.

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