Ashton Thomas Private Wealth LLC Acquires 3,286 Shares of Analog Devices, Inc. $ADI

Ashton Thomas Private Wealth LLC grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 18.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,734 shares of the semiconductor company’s stock after purchasing an additional 3,286 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Analog Devices were worth $5,094,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Penserra Capital Management LLC lifted its holdings in Analog Devices by 46.7% during the 3rd quarter. Penserra Capital Management LLC now owns 122,033 shares of the semiconductor company’s stock valued at $29,982,000 after buying an additional 38,831 shares in the last quarter. Physician Wealth Advisors Inc. increased its position in shares of Analog Devices by 52.2% during the third quarter. Physician Wealth Advisors Inc. now owns 280 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 96 shares during the period. Raleigh Capital Management Inc. raised its stake in shares of Analog Devices by 3,120.7% during the third quarter. Raleigh Capital Management Inc. now owns 1,868 shares of the semiconductor company’s stock valued at $459,000 after acquiring an additional 1,810 shares in the last quarter. SP Asset Management LLC boosted its holdings in shares of Analog Devices by 0.4% in the third quarter. SP Asset Management LLC now owns 73,764 shares of the semiconductor company’s stock valued at $18,124,000 after purchasing an additional 281 shares during the period. Finally, Peterson Wealth Services grew its stake in Analog Devices by 904.6% in the third quarter. Peterson Wealth Services now owns 94,607 shares of the semiconductor company’s stock worth $23,245,000 after purchasing an additional 85,190 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADI has been the subject of a number of research analyst reports. BNP Paribas Exane started coverage on Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price for the company. Barclays set a $315.00 price objective on Analog Devices in a report on Thursday, January 15th. Citigroup raised their target price on shares of Analog Devices from $290.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Wells Fargo & Company set a $340.00 price target on shares of Analog Devices and gave the company an “overweight” rating in a report on Thursday, January 15th. Finally, Stifel Nicolaus increased their price objective on shares of Analog Devices from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.04.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $297.27, for a total transaction of $928,968.75. Following the transaction, the director directly owned 130,071 shares in the company, valued at $38,666,206.17. The trade was a 2.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $306.92, for a total value of $3,069,200.00. Following the transaction, the chief executive officer directly owned 155,688 shares in the company, valued at $47,783,760.96. This represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 50,419 shares of company stock worth $14,328,855. 0.36% of the stock is currently owned by corporate insiders.

Analog Devices Stock Performance

ADI stock opened at $320.44 on Thursday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $323.09. The firm has a market cap of $156.58 billion, a price-to-earnings ratio of 70.27, a PEG ratio of 1.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The firm has a 50-day simple moving average of $288.06 and a two-hundred day simple moving average of $256.04.

Analog Devices (NASDAQ:ADI) last issued 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. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

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.