Analog Devices, Inc. (NASDAQ:ADI) Stock Position Lessened by Argent Trust Co

Argent Trust Co reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,307 shares of the semiconductor company’s stock after selling 820 shares during the quarter. Argent Trust Co’s holdings in Analog Devices were worth $4,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ADI. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Financial Life Planners acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices during the fourth quarter worth $41,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADI has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Transactions at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock worth $5,591,600 in the last 90 days. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 8.6 %

Shares of ADI traded down $16.82 during midday trading on Thursday, hitting $179.81. 1,135,613 shares of the company’s stock traded hands, compared to its average volume of 3,407,998. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average is $209.97 and its 200-day moving average is $216.71. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The stock has a market capitalization of $89.18 billion, a price-to-earnings ratio of 57.26, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analog Devices Company 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.