Fulton Bank N.A. Buys 141 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fulton Bank N.A. increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 12.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,264 shares of the semiconductor company’s stock after buying an additional 141 shares during the period. Fulton Bank N.A.’s holdings in Analog Devices were worth $289,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ADI. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at approximately $1,225,227,000. Swedbank AB bought a new stake in shares of Analog Devices during the first quarter valued at approximately $537,171,000. Vanguard Group Inc. increased its position in shares of Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after acquiring an additional 1,753,536 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

Shares of Analog Devices stock traded up $4.32 on Tuesday, hitting $204.88. 4,669,469 shares of the company’s stock were exchanged, compared to its average volume of 3,362,161. The company has a 50-day simple moving average of $230.75 and a 200-day simple moving average of $209.31. The stock has a market capitalization of $101.66 billion, a PE ratio of 48.66, a PEG ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 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.

Analog Devices (NASDAQ:ADI) last issued its earnings results 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. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. Analog Devices’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.83 EPS. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.80%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several analyst reports. Citigroup raised their price target on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. TD Cowen raised their price target on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Jefferies Financial Group initiated coverage on shares of Analog Devices in a research report on Monday, May 13th. They set a “buy” rating and a $250.00 price target for the company. The Goldman Sachs Group raised their target price on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Sanford C. Bernstein raised their target price on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the sale, the chief accounting officer now owns 10,547 shares in the company, valued at approximately $2,495,209.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,642 shares of company stock valued at $10,791,543. Company insiders own 0.31% of the company’s stock.

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.