Hennion & Walsh Asset Management Inc. Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Hennion & Walsh Asset Management Inc. boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,684 shares of the semiconductor company’s stock after acquiring an additional 2,727 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Analog Devices were worth $10,288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Analog Devices in the 1st quarter valued at $537,171,000. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after buying an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after buying an additional 1,753,536 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Analog Devices by 153.6% in the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after buying an additional 1,422,054 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,495 shares of company stock valued at $20,794,658. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $226.85 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market capitalization of $112.57 billion, a price-to-earnings ratio of 53.00, a PEG ratio of 3.87 and a beta of 1.07. The company’s 50 day simple moving average is $226.59 and its 200 day simple moving average is $221.70. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.49 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Wall Street Analyst Weigh In

ADI has been the subject of a number of analyst reports. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, Morgan Stanley upped their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

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.