Argonautica Private Wealth Management Inc. Raises Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Argonautica Private Wealth Management Inc. lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 14,022 shares of the semiconductor company’s stock after buying an additional 158 shares during the quarter. Analog Devices makes up approximately 1.1% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Argonautica Private Wealth Management Inc.’s holdings in Analog Devices were worth $3,228,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ADI. New Millennium Group LLC purchased a new position in Analog Devices during the second quarter valued at approximately $29,000. ORG Partners LLC increased its holdings in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the period. CVA Family Office LLC increased its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the period. Hobbs Group Advisors LLC purchased a new position in Analog Devices during the second quarter valued at approximately $37,000. Finally, New Covenant Trust Company N.A. purchased a new position in Analog Devices during the first quarter valued at approximately $40,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

NASDAQ ADI traded up $2.37 during mid-day trading on Friday, reaching $225.48. 2,922,814 shares of the stock were exchanged, compared to its average volume of 3,216,943. The business’s 50 day moving average is $227.19 and its 200-day moving average is $223.11. Analog Devices, Inc. has a 1 year low of $161.64 and a 1 year high of $244.14. The company has a market capitalization of $111.95 billion, a P/E ratio of 67.71, a P/E/G ratio of 3.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

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

Analog Devices Announces Dividend

The company also recently declared 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. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ADI shares. Barclays lifted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen 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 target price of $249.80.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. 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, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. 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 500 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,495 shares of company stock valued at $18,513,858 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Company 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.