Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Peterson Wealth Services

Peterson Wealth Services raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,135 shares of the semiconductor company’s stock after purchasing an additional 313 shares during the quarter. Peterson Wealth Services’ holdings in Analog Devices were worth $1,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the third quarter valued at approximately $28,000. Archer Investment Corp raised its stake in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners acquired a new stake in Analog Devices during the fourth quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new stake in Analog Devices during the third quarter valued at approximately $43,000. Finally, Reston Wealth Management LLC acquired a new stake in Analog Devices during the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $204.86 on Tuesday. The stock has a fifty day moving average price of $215.21 and a two-hundred day moving average price of $220.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a market cap of $101.63 billion, a P/E ratio of 62.27, a PEG ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14.

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

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

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.