Apollon Wealth Management LLC Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Apollon Wealth Management LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 16.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,116 shares of the semiconductor company’s stock after buying an additional 1,312 shares during the quarter. Apollon Wealth Management LLC’s holdings in Analog Devices were worth $1,810,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Lincoln National Corp raised its holdings in Analog Devices by 2.3% in the fourth quarter. Lincoln National Corp now owns 5,870 shares of the semiconductor company’s stock worth $1,166,000 after buying an additional 131 shares during the last quarter. Private Advisor Group LLC raised its holdings in Analog Devices by 13.1% in the 4th quarter. Private Advisor Group LLC now owns 21,676 shares of the semiconductor company’s stock worth $4,304,000 after acquiring an additional 2,519 shares during the last quarter. Spire Wealth Management lifted its position in Analog Devices by 16.9% in the 4th quarter. Spire Wealth Management now owns 28,576 shares of the semiconductor company’s stock valued at $5,566,000 after acquiring an additional 4,126 shares in the last quarter. TCI Wealth Advisors Inc. purchased a new stake in Analog Devices during the 4th quarter valued at $203,000. Finally, Clearstead Trust LLC raised its stake in shares of Analog Devices by 814.8% in the fourth quarter. Clearstead Trust LLC now owns 2,287 shares of the semiconductor company’s stock worth $454,000 after purchasing an additional 2,037 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a report on Thursday, January 18th. Barclays increased their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. KeyCorp lifted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Price Performance

Analog Devices stock traded down $0.80 during mid-day trading on Wednesday, hitting $202.77. The stock had a trading volume of 804,754 shares, compared to its average volume of 3,310,938. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $194.85 and its 200 day moving average is $188.89. The firm has a market capitalization of $100.56 billion, a P/E ratio of 36.42, a P/E/G ratio of 5.01 and a beta of 1.14. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $205.77.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company earned $2.75 EPS. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. On average, sell-side analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is 65.83%.

Insider Activity at Analog Devices

In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,075,098.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is owned by corporate insiders.

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.