Axxcess Wealth Management LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 982 shares of the semiconductor company’s stock, valued at approximately $234,000.
Several other hedge funds have also recently made changes to their positions in the company. Elefante Mark B raised its stake in shares of Analog Devices by 0.9% in the second quarter. Elefante Mark B now owns 21,672 shares of the semiconductor company’s stock valued at $5,158,000 after buying an additional 185 shares during the period. Kellett Wealth Advisors LLC purchased a new position in shares of Analog Devices in the second quarter valued at $216,000. NorthRock Partners LLC grew its position in shares of Analog Devices by 5.5% in the second quarter. NorthRock Partners LLC now owns 6,406 shares of the semiconductor company’s stock valued at $1,524,000 after purchasing an additional 334 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Analog Devices by 14.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,132 shares of the semiconductor company’s stock valued at $17,407,000 after purchasing an additional 9,138 shares in the last quarter. Finally, Delaney Dennis R grew its position in shares of Analog Devices by 1.5% in the second quarter. Delaney Dennis R now owns 30,720 shares of the semiconductor company’s stock valued at $7,312,000 after purchasing an additional 450 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.
Analog Devices Price Performance
Analog Devices stock opened at $242.87 on Friday. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $258.13. The business has a 50-day simple moving average of $243.30 and a 200 day simple moving average of $225.47. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The stock has a market cap of $119.48 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 2.05 and a beta of 1.09.
Analog Devices Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.96 annualized dividend and a yield of 1.6%. Analog Devices’s payout ratio is 101.02%.
Insider Activity
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.71, for a total transaction of $2,437,100.00. Following the completion of the sale, the chief executive officer owned 140,118 shares of the company’s stock, valued at $34,148,157.78. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $246.92, for a total value of $771,625.00. Following the sale, the director directly owned 155,071 shares of the company’s stock, valued at approximately $38,290,131.32. This trade represents a 1.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,115 shares of company stock valued at $12,232,985. 0.33% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on ADI shares. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 21st. Morgan Stanley lifted their price target on Analog Devices from $273.00 to $288.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. UBS Group reduced their price target on Analog Devices from $285.00 to $280.00 and set a “buy” rating for the company in a research report on Monday, July 7th. Zacks Research upgraded Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Finally, Benchmark lifted their price target on Analog Devices from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $275.29.
Check Out Our Latest Research Report on Analog Devices
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.
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