Ashton Thomas Private Wealth LLC Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Ashton Thomas Private Wealth LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,737 shares of the semiconductor company’s stock after purchasing an additional 151 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Analog Devices were worth $630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Global Investments bought a new stake in shares of Analog Devices during the third quarter valued at approximately $867,000. Versor Investments LP purchased a new position in shares of Analog Devices during the third quarter worth approximately $952,000. Tidal Investments LLC raised its position in Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after purchasing an additional 6,314 shares in the last quarter. BDF Gestion bought a new stake in shares of Analog Devices in the second quarter valued at about $4,491,000. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Analog Devices by 3.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock valued at $16,912,000 after purchasing an additional 2,280 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on ADI shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Barclays lifted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Down 0.3 %

Shares of NASDAQ:ADI opened at $212.24 on Friday. Analog Devices, Inc. has a 52-week low of $178.66 and a 52-week high of $244.14. The stock has a market cap of $105.38 billion, a P/E ratio of 63.74, a PEG ratio of 3.08 and a beta of 1.08. The business has a fifty day moving average of $226.16 and a two-hundred day moving average of $225.02. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

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.