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

Greenleaf Trust raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,630 shares of the semiconductor company’s stock after acquiring 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 (SEC).

Several other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. raised its holdings in Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 65 shares during the period. Silver Oak Securities Incorporated purchased a new stake in Analog Devices in the third quarter worth $29,000. Fortis Capital Advisors LLC purchased a new stake in Analog Devices in the first quarter worth $31,000. Quarry LP increased its stake in Analog Devices by 267.4% in the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 123 shares during the period. Finally, Worth Asset Management LLC purchased a new stake in Analog Devices in the first quarter worth $33,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,825,113 over the last ninety days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Sanford C. Bernstein downgraded Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a research report on Thursday, January 4th. Truist Financial dropped their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, Barclays raised their price objective on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Down 2.2 %

Shares of ADI opened at $183.36 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The stock’s 50 day moving average is $192.82 and its two-hundred day moving average is $186.53. The firm has a market cap of $90.93 billion, a P/E ratio of 32.80, a PEG ratio of 4.71 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last issued 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 earned $2.75 earnings per share. Analog Devices’s quarterly revenue was down 22.7% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

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

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.