FineMark National Bank & Trust Has $7.85 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

FineMark National Bank & Trust reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,935 shares of the semiconductor company’s stock after selling 470 shares during the quarter. FineMark National Bank & Trust’s holdings in Analog Devices were worth $7,847,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the 4th quarter valued at $30,000. Cassady Schiller Wealth Management LLC boosted its stake in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares during the period. Financial Life Planners purchased a new position in shares of Analog Devices during the 4th quarter valued at $33,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 3.9 %

ADI opened at $212.34 on Tuesday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The business has a 50 day moving average of $217.16 and a 200-day moving average of $219.78. The stock has a market capitalization of $105.32 billion, a price-to-earnings ratio of 67.62, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have commented on ADI. Maxim Group started coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Piper Sandler decreased their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $255.41.

Insider Activity

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,000 shares of company stock worth $5,082,860. Company insiders own 0.33% of the company’s stock.

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.