JGP Wealth Management LLC Has $17.52 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

JGP Wealth Management LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,099 shares of the semiconductor company’s stock after buying an additional 1,260 shares during the period. Analog Devices accounts for approximately 2.3% of JGP Wealth Management LLC’s holdings, making the stock its 9th biggest holding. JGP Wealth Management LLC’s holdings in Analog Devices were worth $17,516,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in Analog Devices during the 2nd quarter worth approximately $29,000. Riverview Trust Co bought a new position in shares of Analog Devices during the 1st quarter worth approximately $30,000. ORG Partners LLC grew its holdings in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. CVA Family Office LLC increased its holdings in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices in the second quarter valued at approximately $37,000. 86.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,495 shares of company stock worth $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ADI shares. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley raised their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, Barclays lifted their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Performance

ADI traded up $2.65 on Friday, reaching $233.35. The company had a trading volume of 295,992 shares, compared to its average volume of 3,261,830. The stock has a 50-day moving average price of $223.18 and a 200-day moving average price of $219.37. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $115.86 billion, a PE ratio of 69.28, a P/E/G ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the company earned $2.49 earnings per share. As a group, research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 110.51%.

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.