Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Avestar Capital LLC

Avestar Capital LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.9% during the fourth quarter, HoldingsChannel reports. The fund owned 4,156 shares of the semiconductor company’s stock after acquiring an additional 375 shares during the quarter. Avestar Capital LLC’s holdings in Analog Devices were worth $883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ADI. Bank of Hawaii increased its position in Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the period. MONECO Advisors LLC boosted its stake in shares of Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after buying an additional 50 shares in the last quarter. DT Investment Partners LLC grew its holdings in Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after acquiring an additional 51 shares during the period. Amarillo National Bank raised its position in Analog Devices by 3.6% in the third quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock worth $360,000 after acquiring an additional 54 shares in the last quarter. Finally, Blossom Wealth Management lifted its holdings in Analog Devices by 3.0% in the third quarter. Blossom Wealth Management now owns 1,881 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 55 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADI shares. Morgan Stanley lowered 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 note on Wednesday, November 27th. Truist Financial increased 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 reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $209.34 on Friday. The company has a 50-day simple moving average of $214.22 and a 200-day simple moving average of $219.87. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company has a market cap of $103.86 billion, a PE ratio of 63.63, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 earnings per share. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.09 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. Investors 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 yield of 1.76%. Analog Devices’s payout ratio is currently 111.85%.

About Analog Devices

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.