Oak Harbor Wealth Partners LLC Acquires Shares of 5,106 Analog Devices, Inc. (NASDAQ:ADI)

Oak Harbor Wealth Partners LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 5,106 shares of the semiconductor company’s stock, valued at approximately $1,175,000.

Several other institutional investors have also bought and sold shares of the stock. Baader Bank Aktiengesellschaft increased its position in shares of Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 43 shares in the last quarter. Grove Bank & Trust lifted its holdings in Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares during the last quarter. CVA Family Office LLC lifted its holdings in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Legacy Financial Advisors Inc. lifted its holdings in Analog Devices by 1.4% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC lifted its holdings in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The trade was a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ADI. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald restated 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 objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Barclays raised their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Stock Performance

Shares of ADI opened at $212.24 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a twelve month low of $178.66 and a twelve month high of $244.14. The firm’s 50 day moving average price is $226.16 and its two-hundred day moving average price is $225.02. The firm has a market cap of $105.38 billion, a P/E ratio of 63.74, a PEG ratio of 3.08 and a beta of 1.08.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 110.51%.

Analog Devices 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.