EP Wealth Advisors LLC Invests $396,000 in Analog Devices, Inc. (NASDAQ:ADI)

EP Wealth Advisors LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,007 shares of the semiconductor company’s stock, valued at approximately $396,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADI. Markel Corp increased its stake in shares of Analog Devices by 1.4% in the 1st quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after purchasing an additional 15,150 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in shares of Analog Devices in the 1st quarter worth $82,000. United Bank increased its stake in shares of Analog Devices by 24.7% in the 1st quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock worth $1,098,000 after purchasing an additional 1,315 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Analog Devices by 34.7% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 412 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Analog Devices by 14.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock worth $19,175,000 after purchasing an additional 14,718 shares in the last quarter. 85.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ADI. Raymond James cut their price target on Analog Devices from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, August 24th. Wolfe Research began coverage on Analog Devices in a research note on Wednesday, July 19th. They issued a “market perform” rating for the company. Wells Fargo & Company cut their price target on Analog Devices from $185.00 to $175.00 and set an “equal weight” rating for the company in a research note on Thursday, August 24th. Truist Financial cut their price target on Analog Devices from $251.00 to $213.00 in a research note on Thursday, May 25th. Finally, Sanford C. Bernstein cut their price target on Analog Devices from $220.00 to $210.00 in a research note on Thursday, May 25th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $204.21.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $197.64, for a total value of $1,976,400.00. Following the sale, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at approximately $13,975,717.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 30,000 shares of company stock valued at $5,661,500 in the last ninety days. 0.46% of the stock is owned by company insiders.

Analog Devices Stock Down 0.9 %

Shares of NASDAQ:ADI opened at $178.14 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $200.10. The company has a 50-day moving average price of $185.76 and a 200 day moving average price of $185.76. The company has a market cap of $88.77 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 1.80 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the company earned $2.52 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 10.12 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, September 5th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, September 1st. Analog Devices’s dividend payout ratio (DPR) is currently 46.74%.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.