Power Wealth Management LLC Buys New Stake in Analog Devices, Inc. (NASDAQ:ADI)

Power Wealth Management LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,714 shares of the semiconductor company’s stock, valued at approximately $340,000.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the last quarter. Invesco Ltd. increased its holdings in shares of 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 last quarter. Baillie Gifford & Co. lifted its holdings in shares of Analog Devices by 11.7% in the 4th quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock valued at $753,379,000 after acquiring an additional 397,753 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Analog Devices by 7.8% in the third quarter. The Manufacturers Life Insurance Company now owns 3,119,239 shares of the semiconductor company’s stock worth $546,148,000 after acquiring an additional 225,048 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Analog Devices by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 2,890,824 shares of the semiconductor company’s stock worth $574,002,000 after acquiring an additional 358,697 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 1.6 %

Analog Devices stock traded up $3.14 during midday trading on Friday, hitting $199.63. 2,372,862 shares of the company’s stock were exchanged, compared to its average volume of 3,339,473. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market cap of $99.00 billion, a PE ratio of 35.71, a P/E/G ratio of 5.01 and a beta of 1.14. The firm has a 50-day moving average of $194.27 and a two-hundred day moving average of $188.15.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is 65.83%.

Insider Buying and Selling

In other news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,874,613 in the last three months. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research note on Thursday, January 18th. The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Barclays lifted their price target on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Truist Financial reduced 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 report on Thursday, February 22nd. Finally, Evercore ISI assumed coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $208.17.

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.