Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Salvus Wealth Management LLC

Salvus Wealth Management LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,717 shares of the semiconductor company’s stock after selling 120 shares during the period. Analog Devices comprises about 2.7% of Salvus Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Salvus Wealth Management LLC’s holdings in Analog Devices were worth $3,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after acquiring an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. acquired a new position in shares of Analog Devices during the 4th quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. bought a new stake in shares of Analog Devices in the 4th quarter worth $850,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Analog Devices in the fourth quarter valued at $1,152,000. Finally, Sequoia Financial Advisors LLC grew its holdings in Analog Devices by 107.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock worth $2,515,000 after acquiring an additional 6,564 shares during the period. 86.81% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,121 shares of company stock worth $10,875,654. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADI has been the topic of several research reports. The Goldman Sachs Group upped their price target on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Truist Financial upped their price objective on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Robert W. Baird boosted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Cantor Fitzgerald raised their price objective on shares of Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley boosted their target price on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $243.23.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $0.05 during trading hours on Tuesday, reaching $228.51. The stock had a trading volume of 168,707 shares, compared to its average volume of 3,339,159. The company has a market cap of $113.39 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 3.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The business’s fifty day moving average is $216.90 and its two-hundred day moving average is $201.63. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $241.88.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business posted $2.83 earnings per share. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. As a group, research analysts expect that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

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.