Zions Bancorporation N.A. Buys 615 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Zions Bancorporation N.A. boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 17.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,071 shares of the semiconductor company’s stock after purchasing an additional 615 shares during the period. Zions Bancorporation N.A.’s holdings in Analog Devices were worth $937,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Swedbank AB acquired a new position in shares of Analog Devices in the first quarter valued at approximately $537,171,000. Vanguard Group Inc. increased its position in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after purchasing an additional 1,753,536 shares during the period. Raymond James & Associates grew its stake in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 9.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,495 shares of company stock worth $25,229,958. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $212.24 on Friday. Analog Devices, Inc. has a 52 week low of $178.66 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a 50 day moving average price of $226.16 and a two-hundred day moving average price of $225.02. The firm has a market capitalization of $105.38 billion, a P/E ratio of 63.74, a P/E/G ratio of 3.08 and a beta of 1.08.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.73%. Analog Devices’s payout ratio is 110.51%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADI shares. Barclays lifted their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley upped their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.