Heritage Wealth Management Inc. Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Heritage Wealth Management Inc. bought a new position in Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,764 shares of the semiconductor company’s stock, valued at approximately $2,716,000. Analog Devices makes up about 0.9% of Heritage Wealth Management Inc.’s portfolio, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new position in Analog Devices during the 2nd quarter valued at $29,000. Riverview Trust Co bought a new stake in shares of Analog Devices during the first quarter valued at approximately $30,000. ORG Partners LLC raised its stake in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC lifted its position in Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices during the second quarter worth $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $223.67 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market cap of $110.99 billion, a price-to-earnings ratio of 52.26, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The stock’s 50-day moving average is $222.62 and its 200-day moving average is $217.97.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping 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 business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the company posted $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. Equities analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 yield of 1.65%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares in the company, valued at approximately $24,447,741.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The disclosure for this sale can be found here. Insiders have sold a total of 51,495 shares of company stock worth $11,637,458 over the last ninety days. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. Finally, Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

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.