Analog Devices, Inc. (NASDAQ:ADI) Position Lessened by First American Trust FSB

First American Trust FSB lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,050 shares of the semiconductor company’s stock after selling 215 shares during the quarter. First American Trust FSB’s holdings in Analog Devices were worth $436,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices in the 4th quarter valued at $833,386,000. Proficio Capital Partners LLC raised its holdings in Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after buying an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. raised its holdings in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after buying an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in shares of Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after acquiring an additional 823,709 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction on 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 directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,000 shares of company stock valued at $5,082,860. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADI. UBS Group boosted their target price on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Wells Fargo & Company raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Finally, Benchmark upped their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $213.58 on Wednesday. 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, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The stock has a market capitalization of $105.93 billion, a P/E ratio of 68.02, a P/E/G ratio of 2.85 and a beta of 1.07. The business has a 50-day moving average price of $217.13 and a two-hundred day moving average price of $219.78.

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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $1.73 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has authorized a stock repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.85%. Analog Devices’s payout ratio is currently 126.11%.

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.