Park National Corp OH Has $43.48 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Park National Corp OH lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,665 shares of the semiconductor company’s stock after selling 858 shares during the period. Analog Devices accounts for 1.6% of Park National Corp OH’s holdings, making the stock its 13th largest holding. Park National Corp OH’s holdings in Analog Devices were worth $43,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADI. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter valued at approximately $28,000. Archer Investment Corp raised its stake in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Trifecta Capital Advisors LLC lifted its holdings in shares of Analog Devices by 544.8% during the second quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 158 shares during the period. Peterson Financial Group Inc. acquired a new stake in Analog Devices in the third quarter valued at $43,000. Finally, Reston Wealth Management LLC acquired a new stake in Analog Devices in the third quarter valued at $48,000. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADI. Morgan Stanley reduced their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Piper Sandler dropped their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Truist Financial dropped their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by insiders.

Analog Devices Stock Performance

ADI opened at $215.87 on Wednesday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The company has a market cap of $107.14 billion, a price-to-earnings ratio of 65.61, a PEG ratio of 2.47 and a beta of 1.05. The company’s fifty day moving average price is $216.99 and its two-hundred day moving average price is $223.12. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 EPS. On average, analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.70%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

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.