Tyche Wealth Partners LLC Has $207,000 Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Tyche Wealth Partners LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 48.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 905 shares of the semiconductor company’s stock after selling 854 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Analog Devices were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after acquiring an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. bought a new stake in shares of Analog Devices in the fourth quarter valued at approximately $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices in the fourth quarter worth $850,000. Capital International Investors increased its position in Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after acquiring an additional 246,799 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Analog Devices by 4.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

ADI stock traded down $0.48 during midday trading on Friday, reaching $223.19. 2,573,637 shares of the company’s stock traded hands, compared to its average volume of 3,363,309. The company has a 50-day simple moving average of $227.29 and a two-hundred day simple moving average of $210.28. The company has a market cap of $110.75 billion, a price-to-earnings ratio of 52.15, a PEG ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same period last year, the firm earned $2.83 EPS. On average, analysts anticipate that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were paid a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.65%. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley upped their price target on Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. UBS Group raised their price objective on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Cowen raised their price objective on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Barclays raised their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the transaction, the chief accounting officer now directly owns 10,547 shares in the company, valued at approximately $2,495,209.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,642 shares of company stock valued at $10,791,543. Company insiders own 0.31% of the company’s stock.

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.