Tyche Wealth Partners LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Tyche Wealth Partners LLC bought a new position in Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,151 shares of the semiconductor company’s stock, valued at approximately $824,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in shares of Analog Devices by 107.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock worth $2,515,000 after purchasing an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of Analog Devices by 37.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after purchasing an additional 2,215 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Analog Devices by 31.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock worth $74,187,000 after purchasing an additional 89,504 shares during the last quarter. L. Roy Papp & Associates LLP increased its position in shares of Analog Devices by 2.0% during the 4th quarter. L. Roy Papp & Associates LLP now owns 37,339 shares of the semiconductor company’s stock worth $7,414,000 after purchasing an additional 717 shares during the last quarter. Finally, Argus Investors Counsel Inc. increased its position in shares of Analog Devices by 28.3% during the 4th quarter. Argus Investors Counsel Inc. now owns 12,511 shares of the semiconductor company’s stock worth $2,484,000 after purchasing an additional 2,757 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a report on Thursday, January 18th. Evercore ISI began coverage on Analog Devices in a research note on Tuesday. They issued an “outperform” rating and a $254.00 price objective for the company. Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research note on Thursday, January 4th. KeyCorp lifted their price objective on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, Truist Financial decreased their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Trading Up 0.5 %

Shares of NASDAQ ADI traded up $0.94 on Tuesday, reaching $191.23. 2,268,041 shares of the company traded hands, compared to its average volume of 3,351,054. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The company has a 50 day moving average of $193.20 and a 200 day moving average of $186.33. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $94.83 billion, a PE ratio of 34.04, a P/E/G ratio of 4.82 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company posted $2.75 EPS. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. On average, equities research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 65.83%.

Insider Buying and Selling

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is currently owned by corporate insiders.

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.