Benjamin Edwards Inc. Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Benjamin Edwards Inc. raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2,791.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,288 shares of the semiconductor company’s stock after buying an additional 88,131 shares during the quarter. Benjamin Edwards Inc.’s holdings in Analog Devices were worth $21,015,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ADI. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices during the second quarter worth $29,000. Archer Investment Corp grew its stake in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC raised its holdings 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 buying an additional 135 shares during the period. Finally, CVA Family Office LLC lifted its stake in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. The trade was a 27.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $24,883,200 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. TD Cowen cut their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley dropped their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Truist Financial lowered their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $218.05 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24. The company has a market cap of $108.22 billion, a PE ratio of 66.28, a P/E/G ratio of 3.36 and a beta of 1.08. The stock has a fifty day moving average price of $224.14 and a 200 day moving average price of $226.03. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Analog Devices 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.