Marks Group Wealth Management Inc Sells 413 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Marks Group Wealth Management Inc lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,762 shares of the semiconductor company’s stock after selling 413 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Analog Devices were worth $7,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Massachusetts Financial Services Co. MA grew its stake in Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after purchasing an additional 1,486,180 shares during the period. International Assets Investment Management LLC lifted its position in shares of Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after purchasing an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its holdings in Analog Devices by 193.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after buying an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. increased its position in Analog Devices by 7.5% in the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after buying an additional 701,367 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADI shares. Truist Financial lowered their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. Morgan Stanley restated an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research report on Thursday, April 11th. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research note on Thursday, January 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Stock Up 1.6 %

Shares of Analog Devices stock traded up $2.95 during trading on Monday, reaching $186.31. The stock had a trading volume of 3,557,438 shares, compared to its average volume of 3,347,768. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $92.39 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 4.60 and a beta of 1.17. The stock has a fifty day moving average price of $192.66 and a two-hundred day moving average price of $186.82. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $2.75 EPS. The business’s revenue was down 22.7% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.98%. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

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.