Atlanta Consulting Group Advisors LLC Purchases New Position in Analog Devices, Inc. (NASDAQ:ADI)

Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,209 shares of the semiconductor company’s stock, valued at approximately $508,000.

Several other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new position in Analog Devices in the 2nd quarter worth $29,000. Archer Investment Corp increased its holdings in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. ORG Partners LLC raised its stake in shares of Analog Devices by 675.0% in 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 during the period. Finally, CVA Family Office LLC lifted its holdings in shares of Analog Devices by 40.2% in the second 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. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ADI shares. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Oppenheimer restated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Price Performance

Analog Devices stock opened at $206.35 on Monday. The company has a market capitalization of $102.45 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 2.89 and a beta of 1.08. The stock’s 50 day moving average is $225.88 and its 200-day moving average is $225.34. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $178.66 and a 12 month high of $244.14.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.78%. Analog Devices’s payout ratio is presently 110.51%.

Insider Transactions at Analog Devices

In other news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This represents a 9.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is currently owned by company insiders.

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.