OLD National Bancorp IN Trims Holdings in Analog Devices, Inc. (NASDAQ:ADI)

OLD National Bancorp IN trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,873 shares of the semiconductor company’s stock after selling 786 shares during the quarter. OLD National Bancorp IN’s holdings in Analog Devices were worth $2,556,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Pinnacle Bancorp Inc. grew its position in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in shares of Analog Devices in the 3rd quarter worth about $29,000. Cetera Trust Company N.A purchased a new position in shares of Analog Devices in the 4th quarter worth about $29,000. CGC Financial Services LLC purchased a new position in shares of Analog Devices in the 4th quarter worth about $37,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Analog Devices in the 4th quarter worth about $44,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADI. Evercore ISI began coverage on Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price for the company. Truist Financial lowered their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. KeyCorp upped their price target on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. 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 research note on Thursday, January 18th. Finally, Morgan Stanley restated an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.17.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,825,113 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 1.6 %

Shares of Analog Devices stock opened at $186.31 on Tuesday. The firm has a market cap of $92.39 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 4.60 and a beta of 1.17. The business has a 50-day moving average price of $192.66 and a 200-day moving average price of $186.82. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is 65.83%.

Analog Devices 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.