Avalon Trust Co Trims Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Avalon Trust Co lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,645 shares of the semiconductor company’s stock after selling 354 shares during the period. Avalon Trust Co’s holdings in Analog Devices were worth $5,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ADI. Massachusetts Financial Services Co. MA boosted its position in shares of Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after buying an additional 2,497,696 shares during the period. Invesco Ltd. boosted its holdings in Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after acquiring an additional 701,367 shares during the period. Baillie Gifford & Co. boosted its holdings in Analog Devices by 11.7% during the 4th quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock valued at $753,379,000 after acquiring an additional 397,753 shares during the period. The Manufacturers Life Insurance Company grew its position in Analog Devices by 7.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,119,239 shares of the semiconductor company’s stock valued at $546,148,000 after acquiring an additional 225,048 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Analog Devices by 14.2% during the fourth quarter. Van ECK Associates Corp now owns 2,890,824 shares of the semiconductor company’s stock worth $574,002,000 after purchasing an additional 358,697 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI traded up $3.14 during trading hours on Friday, reaching $199.63. 2,372,862 shares of the company’s stock were exchanged, compared to its average volume of 3,339,473. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $99.00 billion, a price-to-earnings ratio of 35.71, a P/E/G ratio of 4.93 and a beta of 1.14. The company has a 50-day moving average of $194.27 and a 200 day moving average of $188.15.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.75 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 65.83%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADI. KeyCorp raised their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Truist Financial lowered their target price 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. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research note on Thursday, January 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. Finally, Barclays lifted their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

Insider Buying and Selling

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Analog Devices news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the firm’s 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 directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,874,613 over the last three months. 0.31% of the stock is currently owned by company insiders.

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.