Keyes Stange & Wooten Wealth Management LLC Buys Shares of 2,591 Analog Devices, Inc. (NASDAQ:ADI)

Keyes Stange & Wooten Wealth Management LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,591 shares of the semiconductor company’s stock, valued at approximately $596,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ADI. Van ECK Associates Corp boosted its holdings in Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after acquiring an additional 700,862 shares during the period. American Century Companies Inc. raised its position in shares of Analog Devices by 21.4% in the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after acquiring an additional 767,534 shares in the last quarter. Legal & General Group Plc lifted its position in Analog Devices by 5.3% during the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock valued at $963,788,000 after buying an additional 211,202 shares during the period. Dimensional Fund Advisors LP lifted its position in Analog Devices by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock valued at $720,933,000 after acquiring an additional 171,893 shares during the period. Finally, Swedbank AB raised its stake in Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after buying an additional 180,870 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,995 shares of company stock worth $25,116,338 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley lifted their price target on shares of 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. boosted their price objective 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, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.05.

Analog Devices Stock Up 0.3 %

Analog Devices stock opened at $214.59 on Friday. Analog Devices, Inc. has a 1-year low of $179.63 and a 1-year high of $244.14. The stock has a market cap of $106.54 billion, a PE ratio of 64.44, a P/E/G ratio of 2.97 and a beta of 1.08. 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 stock’s fifty day moving average is $224.87 and its two-hundred day moving average is $225.40.

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

Analog Devices Company 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.