Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Avantax Advisory Services Inc.

Posted by Defense World Staff on Jul 23rd, 2023

Analog Devices logo Avantax Advisory Services Inc. lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,173 shares of the semiconductor company’s stock after buying an additional 108 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Analog Devices were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Markel Corp lifted its stake in Analog Devices by 1.4% during the first quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after purchasing an additional 15,150 shares during the last quarter. Fairfield Bush & CO. bought a new position in Analog Devices during the first quarter worth $82,000. United Bank lifted its stake in Analog Devices by 24.7% during the first quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock worth $1,098,000 after purchasing an additional 1,315 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Analog Devices by 34.7% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 412 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Analog Devices by 14.5% during the first quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock worth $19,175,000 after purchasing an additional 14,718 shares during the last quarter. Institutional investors and hedge funds own 85.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Oppenheimer reduced their price objective on Analog Devices from $230.00 to $215.00 in a research note on Thursday, May 25th. Deutsche Bank Aktiengesellschaft cut their target price on Analog Devices from $200.00 to $195.00 in a research note on Thursday, May 25th. BMO Capital Markets cut their target price on Analog Devices from $215.00 to $200.00 in a research note on Thursday, May 25th. JPMorgan Chase & Co. cut their target price on Analog Devices from $210.00 to $205.00 in a research note on Tuesday, May 30th. Finally, Stifel Nicolaus raised their target price on Analog Devices from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.42.

Analog Devices Trading Up 1.2 %

Shares of ADI opened at $191.96 on Friday. The business’s 50-day moving average price is $187.07 and its 200 day moving average price is $183.47. The stock has a market capitalization of $96.25 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.48 and a beta of 1.15. Analog Devices, Inc. has a 1-year low of $133.48 and a 1-year high of $199.44. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18.

Analog Devices (NASDAQ:ADI – Get Free Report) last issued its quarterly earnings results on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.08. Analog Devices had a return on equity of 15.27% and a net margin of 28.16%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter last year, the business posted $2.40 EPS. Analog Devices’s revenue was up 9.8% on a year-over-year basis. Analysts expect that Analog Devices, Inc. will post 10.57 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 14th. Shareholders of record on Monday, June 5th were paid a dividend of $0.86 per share. The ex-dividend date was Friday, June 2nd. This represents a $3.44 annualized dividend and a yield of 1.79%. Analog Devices’s dividend payout ratio (DPR) is presently 48.73%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CFO Prashanth Mahendra-Rajah sold 30,591 shares of Analog Devices stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $192.75, for a total transaction of $5,896,415.25. Following the transaction, the chief financial officer now owns 27,458 shares of the company’s stock, valued at approximately $5,292,529.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Vincent Roche sold 25,000 shares of Analog Devices stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $181.03, for a total transaction 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 approximately $12,801,174.39. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 30,591 shares of Analog Devices stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $192.75, for a total value of $5,896,415.25. Following the sale, the chief financial officer now owns 27,458 shares of the company’s stock, valued at $5,292,529.50. The disclosure for this sale can be found here. Insiders have sold a total of 74,051 shares of company stock valued at $13,909,815 in the last 90 days. 0.46% of the stock is currently owned by corporate insiders.

About Analog Devices

(Free Report)

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.