Analog Devices, Inc. $ADI Shares Sold by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 34,291 shares of the semiconductor company’s stock after selling 1,247 shares during the period. Analog Devices makes up 1.6% of Parr Mcknight Wealth Management Group LLC’s portfolio, making the stock its 10th biggest position. Parr Mcknight Wealth Management Group LLC’s holdings in Analog Devices were worth $13,604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADI. Petros Family Wealth LLC boosted its position in shares of Analog Devices by 0.8% during the 3rd quarter. Petros Family Wealth LLC now owns 3,377 shares of the semiconductor company’s stock valued at $1,340,000 after acquiring an additional 26 shares in the last quarter. Bridgewater Advisors Inc. raised its position in Analog Devices by 1.5% in the first quarter. Bridgewater Advisors Inc. now owns 1,805 shares of the semiconductor company’s stock worth $574,000 after purchasing an additional 27 shares in the last quarter. Silicon Valley Capital Partners raised its position in Analog Devices by 4.2% in the first quarter. Silicon Valley Capital Partners now owns 672 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 27 shares in the last quarter. Cornerstone Financial Management LLC raised its position in Analog Devices by 54.9% in the second quarter. Cornerstone Financial Management LLC now owns 79 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 28 shares in the last quarter. Finally, 55 North Private Wealth LLC lifted its stake in Analog Devices by 2.8% during the third quarter. 55 North Private Wealth LLC now owns 1,018 shares of the semiconductor company’s stock worth $404,000 after purchasing an additional 28 shares during the period. 86.81% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $396.94, for a total value of $3,969,400.00. Following the transaction, the chief executive officer directly owned 115,460 shares of the company’s stock, valued at $45,830,692.40. The trade was a 7.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Puccio, Jr. sold 2,683 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $374.56, for a total value of $1,004,944.48. Following the sale, the chief financial officer owned 54,177 shares in the company, valued at approximately $20,292,537.12. This trade represents a 4.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 51,020 shares of company stock worth $20,105,198. Insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Analog Devices from $428.00 to $458.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Needham & Company LLC increased their target price on Analog Devices from $440.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Evercore cut their target price on Analog Devices from $474.00 to $462.00 and set an “outperform” rating for the company in a research report on Thursday, August 20th. The Goldman Sachs Group restated a “buy” rating and set a $480.00 target price (up from $450.00) on shares of Analog Devices in a research report on Wednesday, August 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $510.00 price target (up from $400.00) on shares of Analog Devices in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $460.55.

Analog Devices Trading Up 1.7%

Shares of Analog Devices stock opened at $419.79 on Wednesday. Analog Devices, Inc. has a 12-month low of $223.47 and a 12-month high of $445.91. The stock has a market capitalization of $203.42 billion, a P/E ratio of 49.80, a price-to-earnings-growth ratio of 1.00 and a beta of 1.24. The company has a 50-day simple moving average of $390.31 and a 200 day simple moving average of $372.32. The company has a quick ratio of 0.91, a current ratio of 1.25 and a debt-to-equity ratio of 0.20.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.11. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.92 billion. Analog Devices had a net margin of 29.79% and a return on equity of 16.39%. The company’s revenue for the quarter was up 39.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. Analog Devices has set its Q4 2026 guidance at 3.710-4.010 EPS. Research analysts expect that Analog Devices, Inc. will post 13.00 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $1.10 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.0%. Analog Devices’s payout ratio is 52.19%.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a global semiconductor company that designs and manufactures analog, mixed-signal and digital signal-processing technologies. Its products convert, condition and process real-world signals such as temperature, pressure, sound, motion, light and electrical power, helping electronic systems interpret and respond to physical environments.

The company offers a broad portfolio of integrated circuits, power-management products, amplifiers, data converters, sensors, radio-frequency and microwave components, connectivity solutions and embedded processors.