RWA Wealth Partners LLC Raises Position in Analog Devices, Inc. (NASDAQ:ADI)

RWA Wealth Partners LLC grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 34.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,771 shares of the semiconductor company’s stock after buying an additional 3,016 shares during the period. RWA Wealth Partners LLC’s holdings in Analog Devices were worth $2,337,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. CTC Alternative Strategies Ltd. bought a new stake in Analog Devices during the fourth quarter valued at approximately $1,152,000. Sequoia Financial Advisors LLC grew its position 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 valued at $2,515,000 after buying an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC grew its position in Analog Devices by 37.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after buying an additional 2,215 shares during the period. Daiwa Securities Group Inc. grew its position in Analog Devices by 4.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after buying an additional 4,516 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Analog Devices by 31.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock valued at $74,187,000 after buying an additional 89,504 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a research report on Thursday, February 22nd. Evercore ISI assumed coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Finally, Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a research report on Thursday, January 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Buying and Selling

In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 over the last three months. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $189.93 on Wednesday. The firm has a market capitalization of $94.19 billion, a P/E ratio of 33.98, a P/E/G ratio of 4.60 and a beta of 1.17. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $192.77 and its two-hundred day moving average is $186.93.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the firm posted $2.75 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

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.