Weaver Capital Management LLC Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Weaver Capital Management LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,257 shares of the semiconductor company’s stock after acquiring an additional 107 shares during the period. Weaver Capital Management LLC’s holdings in Analog Devices were worth $980,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Narwhal Capital Management boosted its holdings in shares of Analog Devices by 15.6% in the 3rd quarter. Narwhal Capital Management now owns 45,066 shares of the semiconductor company’s stock valued at $10,373,000 after acquiring an additional 6,083 shares during the last quarter. Blossom Wealth Management boosted its holdings in Analog Devices by 3.0% during the third quarter. Blossom Wealth Management now owns 1,881 shares of the semiconductor company’s stock worth $433,000 after buying an additional 55 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Analog Devices by 6.4% during the third quarter. Private Advisor Group LLC now owns 20,936 shares of the semiconductor company’s stock worth $4,818,000 after buying an additional 1,264 shares in the last quarter. Symphony Financial Ltd. Co. boosted its holdings in Analog Devices by 13.3% during the third quarter. Symphony Financial Ltd. Co. now owns 1,172 shares of the semiconductor company’s stock worth $272,000 after buying an additional 138 shares in the last quarter. Finally, Eastern Bank boosted its holdings in Analog Devices by 56.5% during the third quarter. Eastern Bank now owns 141,864 shares of the semiconductor company’s stock worth $32,653,000 after buying an additional 51,190 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $224.62 on Wednesday. The firm has a 50-day simple moving average of $226.36 and a 200-day simple moving average of $221.66. The stock has a market capitalization of $111.46 billion, a price-to-earnings ratio of 52.48, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned $2.49 earnings per share. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices 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 directly owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly 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 91,495 shares of company stock worth $20,794,658. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADI. Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the stock from $266.00 to $233.00 in a 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.