Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.91 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 30.0% during the 4th quarter, Holdings Channel reports. The firm owned 8,984 shares of the semiconductor company’s stock after purchasing an additional 2,071 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Analog Devices were worth $1,909,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Creative Planning grew its position in Analog Devices by 8.8% in the 2nd quarter. Creative Planning now owns 111,557 shares of the semiconductor company’s stock valued at $25,464,000 after purchasing an additional 9,025 shares during the period. Silver Lake Advisory LLC bought a new position in shares of Analog Devices during the 2nd quarter worth approximately $213,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Analog Devices by 4.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 29,502 shares of the semiconductor company’s stock worth $6,733,000 after purchasing an additional 1,317 shares during the period. Invst LLC bought a new position in shares of Analog Devices during the 2nd quarter valued at approximately $204,000. Finally, Quarry LP bought a new stake in shares of Analog Devices in the second quarter valued at $92,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $11,029,300 in the last quarter. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $215.42 on Tuesday. 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 simple moving average of $216.42 and a two-hundred day simple moving average of $222.09. The firm has a market cap of $106.88 billion, a price-to-earnings ratio of 65.48, a PEG ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The business 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 quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.01 EPS. On average, equities analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

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

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent research reports. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Truist Financial boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

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.