Spire Wealth Management Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Spire Wealth Management lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,576 shares of the semiconductor company’s stock after buying an additional 4,126 shares during the period. Spire Wealth Management’s holdings in Analog Devices were worth $5,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. increased its position in Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new position in shares of Analog Devices in the 3rd quarter valued at approximately $29,000. Cetera Trust Company N.A acquired a new position in shares of Analog Devices in the 4th quarter valued at approximately $29,000. Northwest Capital Management Inc raised its position in shares of Analog Devices by 519.2% during the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 135 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in shares of Analog Devices during the 4th quarter valued at approximately $32,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analog Devices Stock Performance

Shares of Analog Devices stock traded up $3.69 on Monday, reaching $203.32. 2,168,768 shares of the company traded hands, compared to its average volume of 3,341,417. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a market capitalization of $100.83 billion, a PE ratio of 36.37, a PEG ratio of 5.01 and a beta of 1.14. The company has a 50 day moving average of $194.27 and a 200 day moving average of $188.38. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20.

Analog Devices (NASDAQ:ADI) last issued its earnings results 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. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $2.75 EPS. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADI. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. The Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Evercore ISI initiated coverage on Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective for the company. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Thursday, January 18th. Finally, Truist Financial cut their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

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.