Smith Salley Wealth Management Purchases 1,689 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Smith Salley Wealth Management boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,130 shares of the semiconductor company’s stock after purchasing an additional 1,689 shares during the quarter. Analog Devices comprises 1.4% of Smith Salley Wealth Management’s holdings, making the stock its 19th biggest position. Smith Salley Wealth Management’s holdings in Analog Devices were worth $21,911,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the 3rd quarter worth $28,000. Archer Investment Corp boosted its holdings in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the 3rd quarter worth about $43,000. Reston Wealth Management LLC bought a new stake in shares of Analog Devices in the 3rd quarter valued at about $48,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $80,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Barclays lowered their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday. Truist Financial lifted their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $11,029,300 over the last three months. 0.31% of the stock is owned by company insiders.

Analog Devices Trading Up 1.9 %

ADI stock opened at $219.16 on Friday. The company’s 50-day simple moving average is $215.64 and its 200 day simple moving average is $222.56. The company has a market capitalization of $108.77 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

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.