Smith Salley Wealth Management Acquires 1,689 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Smith Salley Wealth Management boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,130 shares of the semiconductor company’s stock after acquiring an additional 1,689 shares during the quarter. Analog Devices accounts for approximately 1.4% of Smith Salley Wealth Management’s investment portfolio, making the stock its 19th biggest holding. Smith Salley Wealth Management’s holdings in Analog Devices were worth $21,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADI. Charles Schwab Investment Management Inc. grew its stake in shares of Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after acquiring an additional 39,186 shares in the last quarter. Swiss National Bank increased its stake in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after buying an additional 7,386 shares in the last quarter. Summit Global Investments purchased a new position in shares of Analog Devices in the 3rd quarter worth approximately $867,000. Finally, Versor Investments LP bought a new position in shares of Analog Devices in the third quarter valued at approximately $952,000. 86.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Morgan Stanley reduced their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % 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, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $11,029,300 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Analog Devices Stock Up 1.9 %

ADI stock opened at $219.16 on Friday. The stock has a 50-day simple moving average of $215.64 and a two-hundred day simple moving average of $222.56. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The firm has a market capitalization of $108.77 billion, a PE ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm posted $2.01 EPS. Analog Devices’s revenue was down 10.1% on a year-over-year basis. On average, equities analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.68%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Analog Devices Company 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.