Bar Harbor Wealth Management Has $2.65 Million Position in Analog Devices, Inc. $ADI

Bar Harbor Wealth Management increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 33.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,766 shares of the semiconductor company’s stock after acquiring an additional 2,711 shares during the quarter. Bar Harbor Wealth Management’s holdings in Analog Devices were worth $2,645,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new position in shares of Analog Devices during the second quarter valued at $25,000. Activest Wealth Management grew its stake in shares of Analog Devices by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. RMG Wealth Management LLC bought a new stake in shares of Analog Devices in the second quarter worth $26,000. Saudi Central Bank acquired a new stake in Analog Devices in the first quarter valued at $39,000. Finally, Sound Income Strategies LLC raised its position in Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Up 0.5%

NASDAQ:ADI opened at $277.98 on Thursday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $284.23. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $136.11 billion, a price-to-earnings ratio of 60.96, a PEG ratio of 1.53 and a beta of 1.04. The firm has a fifty day simple moving average of $252.62 and a two-hundred day simple moving average of $243.60.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 EPS. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Cfra reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Analog Devices in a research note on Tuesday, November 25th. Piper Sandler set a $290.00 target price on Analog Devices in a report on Tuesday, November 25th. Morgan Stanley boosted their price target on shares of Analog Devices from $288.00 to $293.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Finally, BNP Paribas assumed coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.22.

Insider Activity

In related news, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the sale, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the transaction, the chief executive officer owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 40,419 shares of company stock valued at $10,249,017. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.