SVB Wealth LLC Decreases Position in Analog Devices, Inc. $ADI

SVB Wealth LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.8% in the third quarter, HoldingsChannel reports. The fund owned 28,351 shares of the semiconductor company’s stock after selling 2,412 shares during the period. SVB Wealth LLC’s holdings in Analog Devices were worth $6,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Howard Hughes Medical Institute purchased a new position in shares of Analog Devices in the second quarter worth $25,000. Clayton Financial Group LLC purchased a new position in shares of Analog Devices in the third quarter valued at about $31,000. LFA Lugano Financial Advisors SA raised its stake in shares of Analog Devices by 92.9% during the third quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 65 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Analog Devices during the third quarter worth about $38,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Analog Devices by 141.8% during the third 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 period. 86.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $306.92, for a total value of $3,069,200.00. Following the sale, the chief executive officer directly owned 155,688 shares of the company’s stock, valued at approximately $47,783,760.96. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katsufumi Nakamura sold 500 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $301.46, for a total value of $150,730.00. Following the transaction, the senior vice president owned 12,710 shares of the company’s stock, valued at $3,831,556.60. The trade was a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 53,544 shares of company stock valued at $15,320,417. Company insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADI. Sanford C. Bernstein reissued a “market perform” rating and set a $270.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Citigroup boosted their price objective 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. Bank of America raised their target price on shares of Analog Devices from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Piper Sandler set a $290.00 price target on shares of Analog Devices in a research report on Tuesday, November 25th. Finally, Susquehanna increased their price target on shares of Analog Devices from $350.00 to $360.00 and gave the stock a “positive” rating in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.22.

Analog Devices Stock Up 0.8%

Shares of Analog Devices stock opened at $322.96 on Tuesday. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $327.74. The firm has a market cap of $157.81 billion, a price-to-earnings ratio of 70.82, a PEG ratio of 1.74 and a beta of 1.03. The company has a 50-day moving average of $291.57 and a 200 day moving average of $258.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share 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 business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. The business’s revenue was up 25.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

About Analog Devices

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.