Plimoth Trust Co. LLC Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Plimoth Trust Co. LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 20.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,576 shares of the semiconductor company’s stock after acquiring an additional 438 shares during the period. Plimoth Trust Co. LLC’s holdings in Analog Devices were worth $593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ADI. Salem Investment Counselors Inc. lifted its position in Analog Devices by 17.0% in the first quarter. Salem Investment Counselors Inc. now owns 1,647 shares of the semiconductor company’s stock valued at $326,000 after purchasing an additional 239 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $69,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $30,000. First Bancorp Inc ME boosted its stake in shares of Analog Devices by 6.7% in the first quarter. First Bancorp Inc ME now owns 1,177 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 74 shares in the last quarter. Finally, Mcdonald Partners LLC grew its holdings in Analog Devices by 0.7% during the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock worth $1,497,000 after acquiring an additional 54 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling 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, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. Company insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 1.2 %

Shares of ADI stock traded down $2.66 during mid-day trading on Monday, hitting $225.67. 2,200,018 shares of the company’s stock were exchanged, compared to its average volume of 3,245,419. The stock has a market cap of $111.98 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 3.87 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The stock has a 50-day simple moving average of $225.95 and a two-hundred day simple moving average of $221.21.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the company earned $2.49 EPS. Equities analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADI. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Barclays increased their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

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.