Salvus Wealth Management LLC Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Salvus Wealth Management LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,468 shares of the semiconductor company’s stock after selling 53 shares during the period. Analog Devices makes up 2.6% of Salvus Wealth Management LLC’s holdings, making the stock its 9th biggest holding. Salvus Wealth Management LLC’s holdings in Analog Devices were worth $4,136,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new position in Analog Devices in the 3rd quarter worth about $28,000. Archer Investment Corp lifted its stake in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the period. Peterson Financial Group Inc. bought a new position in Analog Devices during the 3rd quarter worth approximately $43,000. Reston Wealth Management LLC acquired a new position in shares of Analog Devices in the 3rd quarter worth approximately $48,000. Finally, Northwest Investment Counselors LLC bought a new position in Analog Devices during the third quarter worth $80,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of ADI stock opened at $215.02 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $106.71 billion, a price-to-earnings ratio of 65.36, a PEG ratio of 2.43 and a beta of 1.05. The business’s fifty day moving average is $216.03 and its 200 day moving average is $222.66. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $2.41 billion. During the same period last year, the business earned $2.01 earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.71%. Analog Devices’s dividend payout ratio is 111.85%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Truist Financial raised their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $249.48.

Insider Activity

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

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.