Wingate Wealth Advisors Inc. Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Wingate Wealth Advisors Inc. acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,362 shares of the semiconductor company’s stock, valued at approximately $502,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the 3rd quarter worth approximately $28,000. Archer Investment Corp increased its stake in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices during the fourth quarter worth about $33,000. Peterson Financial Group Inc. purchased a new position in shares of Analog Devices during the third quarter worth approximately $43,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Analog Devices in the third quarter valued at about $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 1.3 %

ADI stock opened at $205.21 on Monday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a market cap of $101.81 billion, a price-to-earnings ratio of 62.37, a PEG ratio of 2.38 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $215.21 and a 200-day simple moving average of $220.28.

Analog Devices (NASDAQ:ADI) last announced its quarterly 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 firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company posted $2.01 earnings per share. Analog Devices’s revenue was down 10.1% compared to the same quarter last year. On average, equities research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ADI. Truist Financial upped their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Barclays decreased their target price 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. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company 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 stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

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.