Somerset Trust Co Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Somerset Trust Co increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,224 shares of the semiconductor company’s stock after purchasing an additional 378 shares during the period. Analog Devices makes up about 2.1% of Somerset Trust Co’s holdings, making the stock its 11th biggest holding. Somerset Trust Co’s holdings in Analog Devices were worth $5,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. Merit Financial Group LLC boosted its holdings in Analog Devices by 40.2% during the 4th quarter. Merit Financial Group LLC now owns 5,776 shares of the semiconductor company’s stock valued at $1,227,000 after acquiring an additional 1,656 shares during the period. Relyea Zuckerberg Hanson LLC boosted its stake in shares of Analog Devices by 4.3% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company’s stock valued at $299,000 after purchasing an additional 58 shares during the period. Saxon Interests Inc. grew its holdings in shares of Analog Devices by 12.7% in the fourth quarter. Saxon Interests Inc. now owns 5,280 shares of the semiconductor company’s stock worth $1,122,000 after purchasing an additional 593 shares during the last quarter. RDA Financial Network increased its stake in shares of Analog Devices by 21.1% in the fourth quarter. RDA Financial Network now owns 7,568 shares of the semiconductor company’s stock worth $1,608,000 after buying an additional 1,319 shares during the period. Finally, Woodstock Corp increased its stake in shares of Analog Devices by 0.8% in the fourth quarter. Woodstock Corp now owns 22,952 shares of the semiconductor company’s stock worth $4,876,000 after buying an additional 180 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial boosted their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company 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, TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $247.57.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’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 transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $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 ninety days, insiders sold 50,000 shares of company stock worth $11,029,300. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

ADI stock opened at $219.16 on Friday. The stock has a market capitalization of $108.74 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. The stock’s 50 day simple moving average is $215.78 and its 200 day simple moving average is $222.60. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. 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 released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $2.01 earnings per share. As a group, research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 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.