Consolidated Planning Corp Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Consolidated Planning Corp grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 203.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,376 shares of the semiconductor company’s stock after purchasing an additional 5,613 shares during the period. Consolidated Planning Corp’s holdings in Analog Devices were worth $1,780,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ADI. Bank of Hawaii boosted its position in shares of Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares in the last quarter. MONECO Advisors LLC boosted its position in shares of Analog Devices by 2.8% in the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after buying an additional 50 shares in the last quarter. DT Investment Partners LLC boosted its position in shares of Analog Devices by 0.7% in the 3rd quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after buying an additional 51 shares in the last quarter. Amarillo National Bank boosted its position in shares of Analog Devices by 3.6% in the 3rd quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock worth $360,000 after buying an additional 54 shares in the last quarter. Finally, Blossom Wealth Management boosted its position in shares of Analog Devices by 3.0% in the 3rd quarter. Blossom Wealth Management now owns 1,881 shares of the semiconductor company’s stock worth $433,000 after buying an additional 55 shares in 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 stock. Truist Financial boosted their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Barclays cut their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Morgan Stanley cut 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 note on Wednesday, November 27th. Finally, Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 0.8 %

NASDAQ ADI opened at $205.13 on Thursday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The company has a 50-day moving average of $214.48 and a 200-day moving average of $219.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company has a market cap of $101.77 billion, a P/E ratio of 62.35, a P/E/G ratio of 2.38 and a beta of 1.04.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

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.