Miracle Mile Advisors LLC Buys 204 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Miracle Mile Advisors LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,595 shares of the semiconductor company’s stock after buying an additional 204 shares during the period. Miracle Mile Advisors LLC’s holdings in Analog Devices were worth $827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADI. New Millennium Group LLC purchased a new position in Analog Devices during the second quarter valued at $29,000. Riverview Trust Co bought a new stake in Analog Devices during the first quarter worth about $30,000. ORG Partners LLC grew its holdings in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. CVA Family Office LLC increased its stake in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices in the 2nd quarter worth approximately $37,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADI. Barclays raised their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday. Finally, Morgan Stanley upped their target price 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. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,495 shares of company stock worth $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $229.40 on Wednesday. The company has a 50-day moving average price of $222.81 and a 200-day moving average price of $218.94. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $113.83 billion, a P/E ratio of 53.74, a PEG ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 earnings per share. Equities research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.60%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

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.