Fidelis Capital Partners LLC Makes New $283,000 Investment in Analog Devices, Inc. (NASDAQ:ADI)

Jun 22, 2023

Fidelis Capital Partners LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,542 shares of the semiconductor company's stock, valued at approximately $283,000.

A number of other institutional investors also recently bought and sold shares of ADI. Worth Asset Management LLC purchased a new stake in shares of Analog Devices in the 1st quarter valued at approximately $33,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $34,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $35,000. Ellevest Inc. raised its stake in shares of Analog Devices by 90.0% in the 4th quarter. Ellevest Inc. now owns 228 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 108 shares during the period. Finally, Tradition Wealth Management LLC increased its stake in Analog Devices by 82.8% during the 4th quarter. Tradition Wealth Management LLC now owns 234 shares of the semiconductor company's stock worth $38,000 after buying an additional 106 shares during the period. 85.91% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ADI opened at $183.21 on Friday. Analog Devices, Inc. has a 12-month low of $133.48 and a 12-month high of $200.10. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The stock's 50 day simple moving average is $189.93 and its 200-day simple moving average is $185.94. The firm has a market cap of $91.87 billion, a P/E ratio of 25.95, a PEG ratio of 1.80 and a beta of 1.15.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.75 by $0.08. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.21 billion. Analog Devices had a net margin of 28.16% and a return on equity of 15.27%. Analog Devices's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $2.40 EPS. Equities analysts anticipate that Analog Devices, Inc. will post 10.55 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 14th. Stockholders of record on Monday, June 5th were paid a dividend of $0.86 per share. The ex-dividend date was Friday, June 2nd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.88%. Analog Devices's dividend payout ratio (DPR) is presently 48.73%.

In related news, CEO Vincent Roche sold 25,000 shares of the business's stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $181.03, for a total transaction of $4,525,750.00. Following the sale, the chief executive officer now owns 70,713 shares of the company's stock, valued at $12,801,174.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Vincent Roche sold 25,000 shares of Analog Devices stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $181.03, for a total transaction of $4,525,750.00. Following the completion of the transaction, the chief executive officer now directly owns 70,713 shares of the company's stock, valued at $12,801,174.39. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 30,591 shares of the business's stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $192.75, for a total value of $5,896,415.25. Following the sale, the chief financial officer now owns 27,458 shares in the company, valued at $5,292,529.50. The disclosure for this sale can be found here. Insiders sold 84,051 shares of company stock worth $15,886,215 in the last 90 days. 0.46% of the stock is currently owned by corporate insiders.

ADI has been the topic of several recent research reports. Morgan Stanley cut their target price on shares of Analog Devices from $210.00 to $195.00 in a research note on Wednesday, May 24th. Susquehanna upped their target price on shares of Analog Devices from $215.00 to $225.00 and gave the stock a "positive" rating in a research note on Tuesday, July 25th. Truist Financial cut their target price on shares of Analog Devices from $251.00 to $213.00 in a research note on Thursday, May 25th. BMO Capital Markets cut their target price on shares of Analog Devices from $215.00 to $200.00 in a research note on Thursday, May 25th. Finally, StockNews.com downgraded shares of Analog Devices from a "buy" rating to a "hold" rating in a research note on Saturday, August 5th. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.83.

Get Our Latest Research Report on ADI

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

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