Sagespring Wealth Partners LLC Purchases 2,309 Shares of Analog Devices, Inc. $ADI

Sagespring Wealth Partners LLC grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 20.7% during the third quarter, HoldingsChannel reports. The firm owned 13,450 shares of the semiconductor company’s stock after purchasing an additional 2,309 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Analog Devices were worth $3,305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GDS Wealth Management boosted its position in shares of Analog Devices by 14.5% in the 3rd quarter. GDS Wealth Management now owns 41,790 shares of the semiconductor company’s stock worth $10,268,000 after purchasing an additional 5,283 shares in the last quarter. PFG Investments LLC boosted its holdings in Analog Devices by 12.4% in the third quarter. PFG Investments LLC now owns 1,940 shares of the semiconductor company’s stock worth $477,000 after acquiring an additional 214 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Analog Devices during the third quarter valued at $2,027,000. GHP Investment Advisors Inc. boosted its stake in Analog Devices by 0.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 49,028 shares of the semiconductor company’s stock worth $12,046,000 after purchasing an additional 332 shares in the last quarter. Finally, Inlet Private Wealth LLC bought a new position in shares of Analog Devices in the third quarter worth approximately $201,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Martin Cotter sold 10,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $278.44, for a total value of $2,784,400.00. Following the sale, the senior vice president owned 49,664 shares in the company, valued at $13,828,444.16. This represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the sale, the chief executive officer directly owned 155,688 shares in the company, valued at $42,825,098.16. This trade represents a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 53,544 shares of company stock worth $14,328,561. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.9%

Shares of NASDAQ:ADI opened at $305.60 on Monday. The stock has a market cap of $149.64 billion, a P/E ratio of 67.02, a price-to-earnings-growth ratio of 1.65 and a beta of 1.03. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $313.54. The business’s 50 day moving average is $275.97 and its 200 day moving average is $252.16.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. Analog Devices’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.3%. Analog Devices’s dividend payout ratio is currently 86.84%.

Key Headlines Impacting Analog Devices

Here are the key news stories impacting Analog Devices this week:

Analysts Set New Price Targets

A number of research analysts recently weighed in on ADI shares. Citigroup increased their price objective on shares of Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 target price on shares of Analog Devices in a research note on Tuesday, December 16th. Wells Fargo & Company set a $340.00 price target on Analog Devices and gave the company an “overweight” rating in a report on Thursday, January 15th. Susquehanna boosted their target price on shares of Analog Devices from $350.00 to $360.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Barclays set a $315.00 target price on shares of Analog Devices in a research note on Thursday, January 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Get Our Latest Research Report on Analog Devices

About Analog Devices

(Free Report)

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.

Further Reading

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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