Apollon Wealth Management LLC Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Apollon Wealth Management LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 35.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,812 shares of the semiconductor company’s stock after purchasing an additional 4,444 shares during the quarter. Apollon Wealth Management LLC’s holdings in Analog Devices were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the 3rd quarter worth approximately $28,000. Archer Investment Corp lifted its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices during the 4th quarter valued at about $33,000. Peterson Financial Group Inc. bought a new position in shares of Analog Devices during the 3rd quarter valued at approximately $43,000. Finally, Reston Wealth Management LLC purchased a new stake in Analog Devices in the 3rd quarter worth approximately $48,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Down 1.3 %

Shares of ADI stock opened at $205.21 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The stock’s 50-day simple moving average is $215.21 and its 200-day simple moving average is $220.35. The firm has a market capitalization of $101.81 billion, a PE ratio of 62.37, a P/E/G ratio of 2.38 and a beta of 1.04.

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

Analog Devices Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.79%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. 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. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADI. Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. Piper Sandler reduced 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 raised their target price 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. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Barclays cut their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices 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.