Greenleaf Trust Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Greenleaf Trust lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,630 shares of the semiconductor company’s stock after purchasing an additional 493 shares during the period. Greenleaf Trust’s holdings in Analog Devices were worth $2,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. State Street Corp raised its stake in shares of Analog Devices by 1.2% during the 1st quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock worth $4,024,078,000 after buying an additional 238,249 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after buying an additional 2,497,696 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Analog Devices by 7.5% in the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after acquiring an additional 701,367 shares during the period. Norges Bank acquired a new stake in shares of Analog Devices in the 4th quarter worth approximately $1,040,194,000. Finally, Morgan Stanley grew its holdings in shares of Analog Devices by 16.1% in the 4th quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock worth $982,344,000 after acquiring an additional 830,281 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Down 2.2 %

NASDAQ:ADI opened at $183.36 on Friday. The business’s 50-day moving average is $192.82 and its two-hundred day moving average is $186.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The firm has a market capitalization of $90.93 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 4.71 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company posted $2.75 earnings per share. The firm’s revenue was down 22.7% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ADI shares. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a report on Thursday, January 18th. Oppenheimer reiterated an “outperform” rating and set a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. KeyCorp increased their target price on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Truist Financial lowered their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.17.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is currently owned by insiders.

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.