Greenup Street Wealth Management LLC Invests $2 Million in Analog Devices, Inc. (NASDAQ:ADI)

Greenup Street Wealth Management LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,088 shares of the semiconductor company’s stock, valued at approximately $2,003,000.

Other large investors also recently bought and sold shares of the company. Amarillo National Bank grew its holdings in Analog Devices by 3.7% in the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares during the period. Keystone Financial Services increased its holdings in Analog Devices by 1.8% in the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock worth $623,000 after acquiring an additional 55 shares in the last quarter. Ancora Advisors LLC raised its position in Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after acquiring an additional 57 shares during the period. Legacy Advisors LLC lifted its holdings in Analog Devices by 2.3% during the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 59 shares in the last quarter. Finally, MRA Advisory Group grew its position in shares of Analog Devices by 2.5% in the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock valued at $444,000 after purchasing an additional 61 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADI has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Analog Devices in a research report on Monday, May 13th. They set a “buy” rating and a $250.00 price target for the company. The Goldman Sachs Group raised their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Cantor Fitzgerald increased their target price on shares of Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Finally, Truist Financial cut their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $212.63.

Check Out Our Latest Stock Report on ADI

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $0.04 during trading on Friday, reaching $214.08. The company’s stock had a trading volume of 2,373,820 shares, compared to its average volume of 3,174,321. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $216.00. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market cap of $106.16 billion, a PE ratio of 38.30, a P/E/G ratio of 5.38 and a beta of 1.14. The company has a 50-day moving average price of $197.55 and a two-hundred day moving average price of $191.23.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $2.75 EPS. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 5.85 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Insider Activity

In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,874,613 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

About Analog Devices

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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