Soltis Investment Advisors LLC Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Soltis Investment Advisors LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,753 shares of the semiconductor company’s stock after purchasing an additional 215 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Analog Devices were worth $1,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wingate Wealth Advisors Inc. purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $502,000. Elevate Capital Advisors LLC purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $1,190,000. Savant Capital LLC grew its holdings in shares of Analog Devices by 12.0% during the fourth quarter. Savant Capital LLC now owns 9,316 shares of the semiconductor company’s stock valued at $1,979,000 after buying an additional 997 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in shares of Analog Devices by 3.3% during the fourth quarter. Angeles Wealth Management LLC now owns 3,494 shares of the semiconductor company’s stock valued at $742,000 after buying an additional 110 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Analog Devices by 0.3% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 184,307 shares of the semiconductor company’s stock valued at $39,703,000 after buying an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices 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 sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Down 0.2 %

ADI opened at $204.86 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The firm’s fifty day moving average is $215.21 and its 200 day moving average is $220.25. The stock has a market cap of $101.63 billion, a price-to-earnings ratio of 62.27, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its 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 company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company earned $2.01 EPS. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.80%. Analog Devices’s dividend payout ratio is currently 111.85%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Morgan Stanley lowered their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

About Analog Devices

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.