Mission Wealth Management LP increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,452 shares of the semiconductor company’s stock after purchasing an additional 85 shares during the period. Mission Wealth Management LP’s holdings in Analog Devices were worth $484,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of ADI. Kistler Tiffany Companies LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $25,000. My Personal CFO LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $29,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Analog Devices during the fourth quarter worth about $34,000. Worth Asset Management LLC purchased a new position in Analog Devices during the first quarter worth about $33,000. Finally, Grey Fox Wealth Advisors LLC purchased a new stake in Analog Devices in the 4th quarter valued at approximately $35,000. 85.91% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Analog Devices
In related news, CEO Vincent Roche sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $181.03, for a total value of $4,525,750.00. Following the completion of the sale, the chief executive officer now directly owns 70,713 shares in the company, valued at $12,801,174.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Vincent Roche sold 25,000 shares of Analog Devices stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $181.03, for a total value of $4,525,750.00. Following the transaction, the chief executive officer now owns 70,713 shares in the company, valued at $12,801,174.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenton J. Sicchitano sold 8,460 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $192.50, for a total value of $1,628,550.00. Following the sale, the director now owns 28,335 shares of the company’s stock, valued at $5,454,487.50. The disclosure for this sale can be found here. Insiders sold 64,051 shares of company stock worth $12,050,715 in the last 90 days. 0.46% of the stock is owned by company insiders.
Analog Devices Price Performance
Analog Devices (NASDAQ:ADI – Get Rating) last announced its quarterly earnings data on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.08. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.21 billion. Analog Devices had a net margin of 28.16% and a return on equity of 15.27%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Research analysts expect that Analog Devices, Inc. will post 10.57 EPS for the current year.
Analog Devices Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 14th. Stockholders of record on Monday, June 5th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, June 2nd. Analog Devices’s dividend payout ratio is currently 48.73%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ADI. Truist Financial cut their target price on Analog Devices from $251.00 to $213.00 in a research note on Thursday, May 25th. Oppenheimer reduced their target price on Analog Devices from $230.00 to $215.00 in a report on Thursday, May 25th. JPMorgan Chase & Co. lowered their price target on shares of Analog Devices from $210.00 to $205.00 in a research note on Tuesday, May 30th. Wells Fargo & Company reduced their price objective on shares of Analog Devices from $190.00 to $185.00 in a research note on Thursday, May 25th. Finally, StockNews.com lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $208.04.
About Analog Devices
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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