Argonautica Private Wealth Management Inc. Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Argonautica Private Wealth Management Inc. grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 14,022 shares of the semiconductor company’s stock after acquiring an additional 158 shares during the period. Analog Devices comprises about 1.1% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 22nd largest holding. Argonautica Private Wealth Management Inc.’s holdings in Analog Devices were worth $3,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADI. New Millennium Group LLC bought a new position in Analog Devices in the 2nd quarter valued at approximately $29,000. ORG Partners LLC lifted its position in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. CVA Family Office LLC lifted its position in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Analog Devices in the 2nd quarter valued at approximately $37,000. Finally, Trifecta Capital Advisors LLC lifted its position in Analog Devices by 544.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

ADI stock traded up $2.37 during trading on Friday, reaching $225.48. The company’s stock had a trading volume of 2,922,814 shares, compared to its average volume of 3,216,943. Analog Devices, Inc. has a 1 year low of $161.64 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 company has a market capitalization of $111.95 billion, a P/E ratio of 67.71, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The company’s fifty day moving average is $227.19 and its 200-day moving average is $223.11.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $2.49 EPS. Analog Devices’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Wall Street Analysts Forecast Growth

ADI has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Bank of America lowered their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. increased their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. 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 hyperlink. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,495 shares of company stock valued at $18,513,858 in the last 90 days. Insiders own 0.31% of the company’s stock.

About Analog Devices

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.