WCG Wealth Advisors LLC Sells 4,048 Shares of Analog Devices, Inc. $ADI

WCG Wealth Advisors LLC reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 28.4% in the second quarter, Holdings Channel reports. The institutional investor owned 10,212 shares of the semiconductor company’s stock after selling 4,048 shares during the period. WCG Wealth Advisors LLC’s holdings in Analog Devices were worth $2,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Analog Devices during the 2nd quarter valued at about $1,803,377,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Analog Devices by 26.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after purchasing an additional 2,407,460 shares in the last quarter. Nuveen LLC bought a new position in shares of Analog Devices in the first quarter valued at approximately $351,943,000. Amundi boosted its position in shares of Analog Devices by 29.2% during the first quarter. Amundi now owns 3,892,848 shares of the semiconductor company’s stock valued at $785,071,000 after buying an additional 880,636 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 buying an additional 761,861 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADI shares. Bank of America raised their price objective on Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Cfra restated a “buy” rating and set a $280.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. KeyCorp upped their price objective on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Cantor Fitzgerald lifted their target price on shares of Analog Devices from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. boosted their target price on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $281.87.

Insider Transactions at Analog Devices

In related news, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the transaction, the director directly owned 5,118 shares in the company, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the sale, the director directly owned 142,571 shares in the company, valued at $32,821,269.91. The trade was a 2.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 39,750 shares of company stock valued at $9,598,496. 0.33% of the stock is currently owned by insiders.

Analog Devices Trading Up 2.4%

NASDAQ:ADI opened at $272.97 on Wednesday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $274.13. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $240.55 and its 200 day moving average is $236.95. The stock has a market capitalization of $133.66 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.Analog Devices’s revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 earnings per share. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.5%. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Analog Devices Company 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.