Keyes Stange & Wooten Wealth Management LLC Takes $596,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Keyes Stange & Wooten Wealth Management LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,591 shares of the semiconductor company’s stock, valued at approximately $596,000.

Several other hedge funds have also bought and sold shares of ADI. Baader Bank Aktiengesellschaft increased its holdings in shares of Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after purchasing an additional 43 shares during the last quarter. Grove Bank & Trust grew its stake in Analog Devices by 3.1% in the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 43 shares during the last quarter. CVA Family Office LLC raised its holdings in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Legacy Financial Advisors Inc. lifted its position in Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC boosted its holdings in shares of Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after acquiring an additional 48 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI stock opened at $214.59 on Friday. The stock has a market capitalization of $106.54 billion, a PE ratio of 64.44, a PEG ratio of 2.97 and a beta of 1.08. The business’s 50 day simple moving average is $224.87 and its 200 day simple moving average is $225.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a one year low of $179.63 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 earnings per share. As a group, research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,995 shares of company stock worth $25,116,338. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ADI. Wells Fargo & Company started coverage on Analog Devices in a report on Friday. They issued an “equal weight” rating and a $220.00 price objective on the stock. Bank of America decreased 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.05.

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.