Vest Financial LLC Buys 3,702 Shares of Analog Devices, Inc. $ADI

Vest Financial LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,312 shares of the semiconductor company’s stock after acquiring an additional 3,702 shares during the quarter. Vest Financial LLC’s holdings in Analog Devices were worth $4,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new position in shares of Analog Devices in the second quarter worth approximately $25,000. RMG Wealth Management LLC purchased a new position in shares of Analog Devices during the 2nd quarter valued at $26,000. Clayton Financial Group LLC purchased a new position in shares of Analog Devices during the 3rd quarter valued at $31,000. Sound Income Strategies LLC boosted its holdings in Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after buying an additional 95 shares during the period. Finally, Access Investment Management LLC purchased a new stake in Analog Devices in the 2nd quarter worth $45,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ADI shares. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings downgraded Analog Devices from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Cfra reaffirmed a “buy” rating and set a $280.00 price objective on shares of Analog Devices in a report on Tuesday, November 25th. KeyCorp boosted their target price on shares of Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Finally, Piper Sandler set a $290.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Analog Devices Stock Up 1.2%

NASDAQ ADI opened at $308.52 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company has a market capitalization of $151.07 billion, a P/E ratio of 67.66, a P/E/G ratio of 1.65 and a beta of 1.03. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $313.19. The stock has a 50 day moving average price of $274.55 and a 200-day moving average price of $251.60.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the firm earned $1.67 earnings per share. Analog Devices’s revenue was up 25.9% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Insider Transactions at Analog Devices

In other news, SVP Katsufumi Nakamura sold 500 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $301.46, for a total transaction of $150,730.00. Following the transaction, the senior vice president owned 12,710 shares of the company’s stock, valued at approximately $3,831,556.60. The trade was a 3.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total value of $719,406.25. Following the completion of the sale, the director owned 142,571 shares of the company’s stock, valued at approximately $32,821,269.91. This represents a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 53,544 shares of company stock worth $14,328,561. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.