Meadow Creek Wealth Advisors LLC Has $359,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Meadow Creek Wealth Advisors LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 61.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,560 shares of the semiconductor company’s stock after buying an additional 593 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Analog Devices were worth $359,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New Millennium Group LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at $29,000. Riverview Trust Co bought a new position in shares of Analog Devices during the 1st quarter valued at $30,000. ORG Partners LLC raised its holdings in shares of Analog Devices by 675.0% during the 2nd 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 raised its holdings in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock opened at $227.89 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 company has a market capitalization of $113.08 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 3.87 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 business has a 50 day simple moving average of $226.36 and a 200 day simple moving average of $221.66.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices’s revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the company earned $2.49 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,495 shares of company stock worth $20,794,658 in the last 90 days. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADI. Barclays lifted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

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.