Fifth Third Wealth Advisors LLC Acquires 2,043 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fifth Third Wealth Advisors LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 28.1% during the 4th quarter, Holdings Channel reports. The fund owned 9,317 shares of the semiconductor company’s stock after acquiring an additional 2,043 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Analog Devices were worth $1,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pines Wealth Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $281,000. Sovereign Financial Group Inc. boosted its holdings in Analog Devices by 6.4% in the fourth quarter. Sovereign Financial Group Inc. now owns 1,536 shares of the semiconductor company’s stock worth $326,000 after acquiring an additional 92 shares in the last quarter. West Oak Capital LLC grew its stake in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 55 shares during the period. Cullen Investment Group LTD. increased its holdings in shares of Analog Devices by 4.0% during the fourth quarter. Cullen Investment Group LTD. now owns 21,232 shares of the semiconductor company’s stock valued at $4,511,000 after acquiring an additional 813 shares in the last quarter. Finally, Ellenbecker Investment Group raised its position in shares of Analog Devices by 9.6% during the fourth quarter. Ellenbecker Investment Group now owns 1,050 shares of the semiconductor company’s stock worth $223,000 after purchasing an additional 92 shares during the period. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports 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 boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Morgan Stanley dropped their price target 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. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $249.48.

Analog Devices Trading Up 0.8 %

Shares of ADI stock opened at $214.65 on Wednesday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $216.19 and a 200-day moving average of $222.69. The firm has a market cap of $106.53 billion, a P/E ratio of 65.24, a PEG ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.01 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $11,029,300 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

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.