Ashton Thomas Private Wealth LLC Acquires 3,286 Shares of Analog Devices, Inc. $ADI

Ashton Thomas Private Wealth LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 18.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,734 shares of the semiconductor company’s stock after buying an additional 3,286 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Analog Devices were worth $5,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Penserra Capital Management LLC grew its position in shares of Analog Devices by 46.7% during the 3rd quarter. Penserra Capital Management LLC now owns 122,033 shares of the semiconductor company’s stock valued at $29,982,000 after acquiring an additional 38,831 shares during the period. Physician Wealth Advisors Inc. grew its holdings in Analog Devices by 52.2% during the third quarter. Physician Wealth Advisors Inc. now owns 280 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 96 shares during the period. Raleigh Capital Management Inc. increased its position in Analog Devices by 3,120.7% in the third quarter. Raleigh Capital Management Inc. now owns 1,868 shares of the semiconductor company’s stock worth $459,000 after buying an additional 1,810 shares in the last quarter. SP Asset Management LLC increased its position in Analog Devices by 0.4% in the third quarter. SP Asset Management LLC now owns 73,764 shares of the semiconductor company’s stock worth $18,124,000 after buying an additional 281 shares in the last quarter. Finally, Peterson Wealth Services raised its stake in shares of Analog Devices by 904.6% in the third quarter. Peterson Wealth Services now owns 94,607 shares of the semiconductor company’s stock worth $23,245,000 after buying an additional 85,190 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price objective on shares of Analog Devices in a research note on Tuesday, December 16th. Susquehanna upped their price target on shares of Analog Devices from $350.00 to $360.00 and gave the stock a “positive” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating and set a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Piper Sandler set a $290.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Finally, JPMorgan Chase & Co. increased their price target on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $297.27, for a total value of $928,968.75. Following the sale, the director directly owned 130,071 shares in the company, valued at $38,666,206.17. The trade was a 2.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katsufumi Nakamura sold 500 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $301.46, for a total transaction of $150,730.00. Following the completion of the transaction, the senior vice president directly owned 12,710 shares of the company’s stock, valued at approximately $3,831,556.60. The trade was a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,419 shares of company stock valued at $14,328,855 over the last quarter. 0.36% of the stock is currently owned by insiders.

Analog Devices Stock Up 2.9%

ADI opened at $320.44 on Thursday. The company has a market capitalization of $156.58 billion, a PE ratio of 70.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.03. The firm has a 50-day simple moving average of $288.06 and a two-hundred day simple moving average of $256.04. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $323.09.

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 the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The business’s revenue was up 25.9% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s payout ratio is currently 86.84%.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.