Congress Wealth Management LLC DE Sells 738 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Congress Wealth Management LLC DE lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 77,392 shares of the semiconductor company’s stock after selling 738 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Analog Devices were worth $15,367,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ADI. Pinnacle Bancorp Inc. lifted its stake in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the period. USA Financial Formulas boosted its holdings in shares of Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 65 shares in the last quarter. Silver Oak Securities Incorporated purchased a new stake in shares of Analog Devices in the 3rd quarter worth about $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices in the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Analog Devices in the 4th quarter worth about $29,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna boosted their price target on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday. Barclays raised their price objective on Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Sanford C. Bernstein lifted their price objective on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Stifel Nicolaus increased their target price on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $239.42.

Insider Buying and Selling at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock worth $4,874,613 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Analog Devices stock traded down $2.05 during midday trading on Friday, reaching $232.51. 4,544,312 shares of the company traded hands, compared to its average volume of 3,265,739. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.98. The business has a 50 day moving average of $200.67 and a two-hundred day moving average of $193.49. The firm has a market capitalization of $115.38 billion, a price-to-earnings ratio of 54.32, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.83 EPS. As a group, research analysts predict that Analog Devices, Inc. will post 5.93 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th will be given a $0.92 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.58%. Analog Devices’s payout ratio is 85.98%.

Analog Devices Profile

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.