Berry Wealth Group LP Trims Stock Position in Analog Devices, Inc. $ADI

Berry Wealth Group LP cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,372 shares of the semiconductor company’s stock after selling 248 shares during the quarter. Analog Devices makes up approximately 1.7% of Berry Wealth Group LP’s portfolio, making the stock its 17th largest holding. Berry Wealth Group LP’s holdings in Analog Devices were worth $2,469,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Analog Devices by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after buying an additional 761,861 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Analog Devices by 5.7% in the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after acquiring an additional 633,425 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Analog Devices by 26.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after acquiring an additional 2,407,460 shares in the last quarter. Norges Bank acquired a new stake in shares of Analog Devices during the second quarter valued at $1,803,377,000. Finally, American Century Companies Inc. increased its position in Analog Devices by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 4,464,722 shares of the semiconductor company’s stock worth $1,062,694,000 after purchasing an additional 206,882 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the sale, the director owned 5,118 shares of the company’s stock, valued at $1,242,343.32. The trade was a 16.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Martin Cotter sold 12,500 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the transaction, the senior vice president owned 63,048 shares in the company, valued at $15,525,570. This represents a 16.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 39,750 shares of company stock worth $9,598,496. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating and issued a $300.00 target price on shares of Analog Devices in a report on Tuesday. Truist Financial upped their price objective on shares of Analog Devices from $249.00 to $258.00 and gave the company a “hold” rating in a research note on Wednesday. Zacks Research lowered shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Robert W. Baird boosted their price target on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $281.87.

Analog Devices Stock Up 2.9%

Shares of NASDAQ ADI opened at $265.52 on Friday. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $265.75. The company has a market cap of $130.62 billion, a P/E ratio of 67.73, a P/E/G ratio of 1.98 and a beta of 1.09. The company has a current ratio of 2.32, a quick ratio of 1.79 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $239.64 and a 200 day moving average price of $236.21.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.5%. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

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.