Prime Capital Investment Advisors LLC Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Prime Capital Investment Advisors LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,367 shares of the semiconductor company’s stock after selling 675 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Analog Devices were worth $4,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC grew its stake in shares of Analog Devices by 5.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 2,737 shares of the semiconductor company’s stock worth $630,000 after acquiring an additional 151 shares during the period. First National Trust Co lifted its position in shares of Analog Devices by 1.7% during the 3rd quarter. First National Trust Co now owns 11,638 shares of the semiconductor company’s stock valued at $2,679,000 after buying an additional 190 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of Analog Devices by 6.2% in the third quarter. Apollon Wealth Management LLC now owns 12,368 shares of the semiconductor company’s stock worth $2,847,000 after purchasing an additional 720 shares during the period. Keystone Financial Services increased its stake in Analog Devices by 7.2% in the 3rd quarter. Keystone Financial Services now owns 3,632 shares of the semiconductor company’s stock worth $836,000 after buying an additional 244 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its stake in Analog Devices by 13.0% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 17,353 shares of the semiconductor company’s stock valued at $3,994,000 after purchasing an additional 1,994 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley boosted their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America dropped their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Barclays raised their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Trading Down 0.4 %

NASDAQ:ADI opened at $219.55 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $226.32 and a 200-day simple moving average of $224.99. Analog Devices, Inc. has a 12 month low of $170.10 and a 12 month high of $244.14. The company has a market capitalization of $109.00 billion, a P/E ratio of 65.93, a PEG ratio of 3.17 and a beta of 1.08.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.68%. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock worth $25,229,958 over the last three months. 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.