Perigon Wealth Management LLC Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Perigon Wealth Management LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,753 shares of the semiconductor company’s stock after acquiring an additional 259 shares during the period. Perigon Wealth Management LLC’s holdings in Analog Devices were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the 3rd quarter worth $28,000. Archer Investment Corp increased its holdings in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Analog Devices in the third quarter worth about $43,000. Reston Wealth Management LLC purchased a new position in Analog Devices in the third quarter valued at about $48,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Analog Devices during the 3rd quarter valued at approximately $80,000. 86.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of several research analyst reports. Truist Financial upped their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Morgan Stanley dropped their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $212.40 on Friday. The stock’s 50-day simple moving average is $216.50 and its two-hundred day simple moving average is $221.67. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The firm has a market capitalization of $105.37 billion, a P/E ratio of 64.56, a P/E/G ratio of 2.57 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $2.01 earnings per share. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, equities analysts anticipate 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 given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. Analog Devices’s payout ratio is 111.85%.

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.