Scissortail Wealth Management LLC Purchases 9,433 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Scissortail Wealth Management LLC boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2,475.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,814 shares of the semiconductor company's stock after purchasing an additional 9,433 shares during the period. Scissortail Wealth Management LLC's holdings in Analog Devices were worth $2,085,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Midwest Professional Planners LTD. grew its position in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after buying an additional 53 shares during the period. Portland Global Advisors LLC grew its position in shares of Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after buying an additional 53 shares during the period. NTV Asset Management LLC grew its holdings in Analog Devices by 2.7% during the fourth 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 during the period. Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% during the fourth 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 during the period. Finally, Relyea Zuckerberg Hanson LLC grew its holdings in Analog Devices by 4.3% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company's stock valued at $299,000 after purchasing an additional 58 shares during the period. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

Analog Devices stock traded down $0.05 during midday trading on Tuesday, hitting $224.49. The company's stock had a trading volume of 2,619,082 shares, compared to its average volume of 3,519,481. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. 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 50-day moving average price of $196.94 and a two-hundred day moving average price of $210.32. The company has a market cap of $111.34 billion, a price-to-earnings ratio of 71.49, a PEG ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The business's revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now directly owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock valued at $8,735,156 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a report on Monday. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. UBS Group dropped their price objective on shares of Analog Devices from $300.00 to $295.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. 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. According to data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and an average target price of $252.35.

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.