Virginia Wealth Management Group Inc. Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Virginia Wealth Management Group Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,336 shares of the semiconductor company’s stock after selling 230 shares during the quarter. Virginia Wealth Management Group Inc.’s holdings in Analog Devices were worth $1,346,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Raymond James & Associates lifted its stake in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the period. Franklin Resources Inc. increased its stake in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. International Assets Investment Management LLC lifted its position in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after buying an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after buying an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after buying an additional 823,709 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 0.4 %

NASDAQ:ADI opened at $206.01 on Wednesday. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The business’s 50-day simple moving average is $216.06 and its 200 day simple moving average is $220.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The stock has a market cap of $102.20 billion, a price-to-earnings ratio of 62.62, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.01 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADI. Truist Financial increased their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Barclays decreased their price target 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. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Finally, Morgan Stanley dropped their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.