Hancock Whitney Corp Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Hancock Whitney Corp increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 7.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,257 shares of the semiconductor company’s stock after buying an additional 91 shares during the period. Hancock Whitney Corp’s holdings in Analog Devices were worth $249,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Comerica Bank grew its stake in Analog Devices by 0.6% in the 1st quarter. Comerica Bank now owns 147,612 shares of the semiconductor company’s stock worth $29,196,000 after buying an additional 944 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in Analog Devices in the first quarter valued at $1,374,000. Tidal Investments LLC increased its stake in Analog Devices by 24.9% in the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after acquiring an additional 6,314 shares during the last quarter. California State Teachers Retirement System raised its position in Analog Devices by 0.7% during the first quarter. California State Teachers Retirement System now owns 814,293 shares of the semiconductor company’s stock valued at $161,059,000 after purchasing an additional 5,448 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Analog Devices by 19.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 11,619 shares of the semiconductor company’s stock worth $2,298,000 after purchasing an additional 1,893 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ADI shares. Stifel Nicolaus raised their price objective on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a report on Monday, May 20th. Barclays boosted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. KeyCorp increased their target price on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Evercore ISI initiated coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. Finally, Sanford C. Bernstein raised their price objective on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Insider Activity

In other Analog Devices news, Director James Champy sold 4,200 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,487,947.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director James Champy sold 4,200 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total transaction of $980,910.00. Following the sale, the director now owns 6,371 shares in the company, valued at $1,487,947.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the transaction, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. Insiders have sold 36,642 shares of company stock worth $8,510,743 in the last three months. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded down $7.86 during midday trading on Friday, hitting $211.06. 3,055,318 shares of the stock traded hands, compared to its average volume of 3,315,551. The firm has a market capitalization of $104.73 billion, a P/E ratio of 49.11, a PEG ratio of 3.90 and a beta of 1.08. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a 50-day moving average of $231.88 and a two-hundred day moving average of $208.79.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the business earned $2.83 EPS. The business’s quarterly revenue was down 33.8% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.74%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

About Analog Devices

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.