Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by First National Trust Co

First National Trust Co boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,638 shares of the semiconductor company’s stock after purchasing an additional 190 shares during the period. First National Trust Co’s holdings in Analog Devices were worth $2,679,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Global Investments bought a new stake in shares of Analog Devices in the third quarter worth $867,000. Tidal Investments LLC grew its stake in Analog Devices by 24.9% in the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after purchasing an additional 6,314 shares in the last quarter. BDF Gestion acquired a new position in Analog Devices in the second quarter worth about $4,491,000. Envestnet Portfolio Solutions Inc. increased its holdings in Analog Devices by 3.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock valued at $16,912,000 after buying an additional 2,280 shares during the last quarter. Finally, Interval Partners LP acquired a new stake in Analog Devices during the first quarter valued at approximately $1,978,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

ADI opened at $219.55 on Wednesday. The firm has a market capitalization of $109.00 billion, a P/E ratio of 65.93, a PEG ratio of 3.17 and a beta of 1.08. The stock has a fifty day moving average of $226.32 and a 200-day moving average of $224.99. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $170.10 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company posted $2.49 EPS. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 110.51%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock valued at $25,229,958 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ADI shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley increased their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America lowered their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

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.