Analog Devices, Inc. (NASDAQ:ADI) is Absher Wealth Management LLC’s 10th Largest Position

Absher Wealth Management LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.6% in the third quarter, Holdings Channel.com reports. The fund owned 129,778 shares of the semiconductor company’s stock after selling 4,822 shares during the quarter. Analog Devices makes up approximately 3.9% of Absher Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. Absher Wealth Management LLC’s holdings in Analog Devices were worth $29,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in Analog Devices during the third quarter worth $48,000. Catalyst Financial Partners LLC increased its position in shares of Analog Devices by 7.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 2,292 shares of the semiconductor company’s stock worth $528,000 after purchasing an additional 156 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in Analog Devices in the 3rd quarter valued at about $245,000. First Trust Direct Indexing L.P. boosted its stake in Analog Devices by 14.3% during the third quarter. First Trust Direct Indexing L.P. now owns 19,358 shares of the semiconductor company’s stock worth $4,456,000 after buying an additional 2,418 shares during the period. Finally, Avitas Wealth Management LLC lifted its holdings in shares of Analog Devices by 1.6% in the 3rd quarter. Avitas Wealth Management LLC now owns 13,808 shares of the semiconductor company’s stock worth $3,178,000 after acquiring an additional 214 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,495 shares of company stock valued at $18,513,858. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Up 0.8 %

Shares of NASDAQ:ADI traded up $1.70 during trading on Friday, hitting $224.81. 143,918 shares of the company were exchanged, compared to its average volume of 3,203,838. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm’s 50 day moving average price is $227.24 and its 200-day moving average price is $222.87. The stock has a market capitalization of $111.62 billion, a P/E ratio of 67.00, a PEG ratio of 3.82 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $161.64 and a 12-month high of $244.14.

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

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley increased their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Six equities research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

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.