B. Riley Wealth Advisors Inc. Purchases Shares of 3,735 Analog Devices, Inc. $ADI

B. Riley Wealth Advisors Inc. acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,735 shares of the semiconductor company’s stock, valued at approximately $889,000.

Several other hedge funds have also recently made changes to their positions in the business. Howard Hughes Medical Institute bought a new position in Analog Devices in the 2nd quarter valued at approximately $25,000. Activest Wealth Management raised its holdings in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 127 shares during the period. RMG Wealth Management LLC bought a new stake in Analog Devices during the 2nd quarter valued at approximately $26,000. Saudi Central Bank bought a new position in Analog Devices in the 1st quarter worth approximately $39,000. Finally, Nova Wealth Management Inc. purchased a new stake in Analog Devices during the 1st quarter valued at approximately $42,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the transaction, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at approximately $5,258,381.39. This trade represents a 30.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the completion of the sale, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at $38,447,218. This represents a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 35,419 shares of company stock worth $8,791,598. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. The Goldman Sachs Group restated a “buy” rating and issued a $300.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Analog Devices in a research note on Monday, December 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 21st. Finally, Benchmark reiterated a “buy” rating and issued a $285.00 price target on shares of Analog Devices in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $283.61.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $280.44 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $284.23. The firm has a market capitalization of $137.32 billion, a PE ratio of 61.50, a P/E/G ratio of 1.55 and a beta of 1.03. The business’s 50 day moving average price is $246.90 and its 200-day moving average price is $240.92.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the company earned $1.67 EPS. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, December 8th. Analog Devices’s payout ratio is currently 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.