Drive Wealth Management LLC Has $263,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Drive Wealth Management LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 9.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,326 shares of the semiconductor company’s stock after purchasing an additional 113 shares during the period. Drive Wealth Management LLC’s holdings in Analog Devices were worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. State Street Corp increased its position in shares of Analog Devices by 1.6% during the 2nd quarter. State Street Corp now owns 20,724,346 shares of the semiconductor company’s stock worth $4,037,310,000 after purchasing an additional 320,338 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares during the last quarter. Invesco Ltd. grew its holdings in Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after acquiring an additional 701,367 shares during the last quarter. Norges Bank bought a new stake in Analog Devices during the 4th quarter worth about $1,040,194,000. Finally, Morgan Stanley grew its holdings in Analog Devices by 16.1% during the 4th quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock worth $982,344,000 after acquiring an additional 830,281 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 0.9 %

Analog Devices stock opened at $194.88 on Wednesday. The company’s 50 day simple moving average is $193.13 and its 200 day simple moving average is $184.95. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $202.77. The firm has a market capitalization of $96.64 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 4.96 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm earned $2.75 EPS. Analog Devices’s quarterly revenue was down 22.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,228 shares of company stock worth $4,137,802. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Barclays increased their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 target price (down previously from $219.00) on shares of Analog Devices in a research note on Thursday, February 22nd. Finally, Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research note on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.26.

Get Our Latest Research Report on Analog Devices

Analog Devices Profile

(Free Report)

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.

Further Reading

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

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