Tritonpoint Wealth LLC Purchases 6,167 Shares of Analog Devices, Inc. $ADI

Tritonpoint Wealth LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 31.9% during the third quarter, Holdings Channel.com reports. The firm owned 25,517 shares of the semiconductor company’s stock after buying an additional 6,167 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Analog Devices were worth $6,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Analog Devices in the 2nd quarter valued at $1,803,377,000. Marshall Wace LLP boosted its position in shares of Analog Devices by 948.2% in 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 during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Analog Devices by 47.4% in 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 valued at $653,599,000 after acquiring an additional 882,909 shares in the last quarter. Amundi increased its position in Analog Devices by 29.2% during the first quarter. Amundi now owns 3,892,848 shares of the semiconductor company’s stock worth $785,071,000 after acquiring an additional 880,636 shares during the period. Finally, Vanguard Group Inc. raised its stake in Analog Devices by 1.5% in the 2nd 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 in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $285.00 target price on shares of Analog Devices in a report on Wednesday, November 26th. UBS Group increased their price target on Analog Devices from $280.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Truist Financial raised their price objective on Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a research note on Friday, December 19th. Robert W. Baird upped their target price on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Analog Devices in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $287.22.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $279.39, for a total transaction of $873,093.75. Following the sale, the director owned 136,321 shares of the company’s stock, valued at approximately $38,086,724.19. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the transaction, the chief executive officer owned 163,640 shares of the company’s stock, valued at $38,447,218. This trade represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,419 shares of company stock worth $10,249,017 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 0.5%

Shares of ADI opened at $277.98 on Thursday. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $284.23. The business’s fifty day moving average is $252.62 and its 200-day moving average is $243.60. 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 $136.11 billion, a price-to-earnings ratio of 60.96, a PEG ratio of 1.53 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, 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 business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the company earned $1.67 EPS. Analog Devices’s revenue for the quarter was up 25.9% on a year-over-year basis. Equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal 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 paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Analog Devices Profile

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.