Executive Wealth Management LLC Invests $12.26 Million in Analog Devices, Inc. (NASDAQ:ADI)

Executive Wealth Management LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 53,268 shares of the semiconductor company’s stock, valued at approximately $12,261,000. Analog Devices accounts for 1.0% of Executive Wealth Management LLC’s portfolio, making the stock its 24th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Diversify Advisory Services LLC purchased a new stake in Analog Devices during the second quarter worth $233,000. Sequoia Financial Advisors LLC boosted its holdings in Analog Devices by 7.8% during the second quarter. Sequoia Financial Advisors LLC now owns 11,844 shares of the semiconductor company’s stock worth $2,703,000 after buying an additional 858 shares in the last quarter. Cooper Financial Group purchased a new position in Analog Devices during the second quarter valued at $260,000. Maia Wealth LLC purchased a new position in Analog Devices during the second quarter valued at $271,000. Finally, Diversified Trust Co lifted its holdings in Analog Devices by 8.1% during the second quarter. Diversified Trust Co now owns 4,077 shares of the semiconductor company’s stock valued at $931,000 after purchasing an additional 304 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Analog Devices stock opened at $219.04 on Tuesday. Analog Devices, Inc. has a 12-month low of $181.80 and a 12-month high of $244.14. The stock has a market cap of $108.71 billion, a P/E ratio of 66.58, a PEG ratio of 2.48 and a beta of 1.05. The company has a 50-day moving average price of $222.95 and a 200 day moving average price of $225.88. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock worth $22,596,300 over the last three months. 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.