ProVise Management Group LLC Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

ProVise Management Group LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,654 shares of the semiconductor company’s stock after buying an additional 67 shares during the period. Analog Devices comprises approximately 1.3% of ProVise Management Group LLC’s investment portfolio, making the stock its 24th biggest position. ProVise Management Group LLC’s holdings in Analog Devices were worth $14,758,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Swedbank AB purchased a new stake in Analog Devices during the first quarter worth $537,171,000. Vanguard Group Inc. raised its stake in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after acquiring an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of Analog Devices during the 1st quarter valued at about $181,232,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,570,541.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADI has been the topic of a number of analyst reports. TD Cowen raised their target price on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley lifted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial cut their target price on Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Sanford C. Bernstein boosted their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Finally, UBS Group boosted their target price on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Trading Down 1.2 %

NASDAQ ADI opened at $222.64 on Thursday. The stock has a market capitalization of $110.48 billion, a P/E ratio of 52.02, a P/E/G ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The firm has a 50-day moving average price of $224.04 and a 200 day moving average price of $215.73. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the company posted $2.49 earnings per share. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. Equities research analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. Analog Devices’s dividend payout ratio is presently 85.98%.

Analog Devices Company 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.