SVB Wealth LLC Has $6.97 Million Holdings in Analog Devices, Inc. $ADI

SVB Wealth LLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,351 shares of the semiconductor company’s stock after selling 2,412 shares during the quarter. SVB Wealth LLC’s holdings in Analog Devices were worth $6,966,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADI. Norges Bank acquired a new position in Analog Devices during the 2nd quarter worth approximately $1,803,377,000. Marshall Wace LLP increased its holdings in shares of Analog Devices by 948.2% during the second quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock valued at $258,487,000 after acquiring an additional 982,385 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Analog Devices by 47.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock worth $653,599,000 after purchasing an additional 882,909 shares during the period. Vanguard Group Inc. raised its position in shares of Analog Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Analog Devices by 684.6% in the 3rd quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock worth $211,871,000 after purchasing an additional 752,411 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Bank of America upped their target price on shares of Analog Devices from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price target on shares of Analog Devices in a research note on Tuesday, December 16th. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $314.00 target price on shares of Analog Devices in a report on Friday, January 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $314.22.

Analog Devices Stock Performance

Shares of ADI stock opened at $322.96 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The firm has a market cap of $157.81 billion, a price-to-earnings ratio of 70.82, a P/E/G ratio of 1.74 and a beta of 1.03. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $327.74. The firm’s 50-day simple moving average is $291.57 and its two-hundred day simple moving average is $258.09.

Analog Devices (NASDAQ:ADI) last released 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 business posted $1.67 earnings per share. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

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

Insider Activity

In other Analog Devices news, SVP Martin Cotter sold 10,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $278.44, for a total value of $2,784,400.00. Following the transaction, the senior vice president directly owned 49,664 shares in the company, valued at $13,828,444.16. This represents a 16.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the sale, the chief accounting officer 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 53,544 shares of company stock valued at $15,320,417. 0.36% of the stock is currently owned by insiders.

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.