Gratus Wealth Advisors LLC Has $1.78 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Gratus Wealth Advisors LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,863 shares of the semiconductor company’s stock after selling 546 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in Analog Devices were worth $1,781,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft raised its stake in shares of Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after acquiring an additional 43 shares during the last quarter. CVA Family Office LLC lifted its holdings in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after buying an additional 48 shares during the last quarter. SouthState Corp boosted its position in Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 50 shares during the last quarter. Finally, Investment Partners LTD. increased its stake in shares of Analog Devices by 2.9% in the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock valued at $399,000 after buying an additional 50 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ADI shares. Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Bank of America dropped their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at $18,106,760.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $229.40 on Wednesday. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The stock has a 50 day moving average of $222.81 and a 200-day moving average of $218.94. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $113.83 billion, a P/E ratio of 53.60, a P/E/G ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the firm posted $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.60%. Analog Devices’s payout ratio is 85.98%.

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.