Berry Wealth Group LP Purchases New Position in Analog Devices, Inc. (NASDAQ:ADI)

Berry Wealth Group LP purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,347 shares of the semiconductor company’s stock, valued at approximately $2,612,000. Analog Devices makes up 1.9% of Berry Wealth Group LP’s holdings, making the stock its 17th largest holding.

Several other large investors have also recently added to or reduced their stakes in ADI. New Millennium Group LLC acquired a new position in shares of Analog Devices in the 2nd quarter worth approximately $29,000. Riverview Trust Co bought a new position in Analog Devices in the 1st quarter valued at $30,000. ORG Partners LLC boosted its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices in the second quarter valued at $37,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Down 1.9 %

ADI traded down $4.23 during mid-day trading on Monday, hitting $224.10. The stock had a trading volume of 798,116 shares, compared to its average volume of 3,238,513. The stock’s fifty day simple moving average is $225.95 and its 200-day simple moving average is $221.21. The firm has a market capitalization of $111.20 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $2.49 EPS. The firm’s revenue was down 24.8% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.64%. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the sale, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued 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 a consensus target price of $249.80.

About Analog Devices

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.