Analog Devices, Inc. (NASDAQ:ADI) Stock Position Lifted by WealthShield Partners LLC

Key Points

• WealthShield Partners LLC increased its holdings in Analog Devices, Inc. by 24.0% in the first quarter, owning a total of 10,051 shares worth $2,027,000.
• Several hedge funds significantly boosted their stakes in Analog Devices, with GAMMA Investing LLC growing its holdings by 25,460.1%, now owning over 2.2 million shares valued at approximately $446 million.
• Analog Devices announced a quarterly dividend of $0.99 per share, resulting in an annualized dividend of $3.96 with a yield of 1.8%.

WealthShield Partners LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,051 shares of the semiconductor company's stock after purchasing an additional 1,947 shares during the quarter. WealthShield Partners LLC's holdings in Analog Devices were worth $2,027,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ADI. Orion Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices in the fourth quarter valued at $27,000. Alpine Bank Wealth Management acquired a new stake in Analog Devices in the first quarter valued at $27,000. N.E.W. Advisory Services LLC acquired a new stake in Analog Devices in the first quarter valued at $33,000. Finally, North Capital Inc. acquired a new stake in Analog Devices in the first quarter valued at $36,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the sale, the director directly owned 167,571 shares of the company's stock, valued at $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADI. Keefe, Bruyette & Woods raised Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Cowen reaffirmed a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. Oppenheimer increased their target price on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. KGI Securities assumed coverage on Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating on the stock. Finally, Piper Sandler cut their price objective on Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Stock Up 0.4%

NASDAQ ADI traded up $0.83 during mid-day trading on Friday, reaching $223.95. 3,078,240 shares of the company's stock traded hands, compared to its average volume of 3,379,463. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.73. The company has a fifty day simple moving average of $232.32 and a 200-day simple moving average of $215.78. 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 $111.14 billion, a price-to-earnings ratio of 61.02, a P/E/G ratio of 2.06 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating 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 business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business earned $1.40 EPS. The business's quarterly revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts expect 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 given a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.8%. Analog Devices's dividend payout ratio (DPR) 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.