Baron Wealth Management LLC Buys 403 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Baron Wealth Management LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 8.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,237 shares of the semiconductor company’s stock after purchasing an additional 403 shares during the quarter. Analog Devices makes up 0.5% of Baron Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position. Baron Wealth Management LLC’s holdings in Analog Devices were worth $1,113,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Analog Devices by 4.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 29,502 shares of the semiconductor company’s stock worth $6,733,000 after acquiring an additional 1,317 shares during the period. Quarry LP bought a new position in shares of Analog Devices during the second quarter valued at approximately $92,000. EP Wealth Advisors LLC boosted its stake in shares of Analog Devices by 10.1% during the second quarter. EP Wealth Advisors LLC now owns 4,983 shares of the semiconductor company’s stock valued at $1,137,000 after purchasing an additional 457 shares in the last quarter. 3Chopt Investment Partners LLC bought a new position in Analog Devices in the second quarter worth approximately $414,000. Finally, New Century Financial Group LLC bought a new position in Analog Devices in the second quarter worth approximately $208,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $209.91 on Thursday. The company has a 50 day simple moving average of $216.52 and a two-hundred day simple moving average of $221.75. The stock has a market cap of $104.15 billion, a price-to-earnings ratio of 63.80, a PEG ratio of 2.57 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company posted $2.01 earnings per share. The firm’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ADI shares. Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Truist Financial boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. TD Cowen cut their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Morgan Stanley decreased their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.70.

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.