Sanibel Captiva Trust Company Inc. Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Sanibel Captiva Trust Company Inc. lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,240 shares of the semiconductor company’s stock after buying an additional 117 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Analog Devices were worth $511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas lifted its position in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company N.A acquired a new position in shares of Analog Devices during the fourth quarter worth $29,000. Private Wealth Management Group LLC acquired a new position in shares of Analog Devices during the fourth quarter worth $29,000. Riverview Trust Co acquired a new stake in Analog Devices in the first quarter valued at $30,000. Finally, Northwest Capital Management Inc raised its holdings in Analog Devices by 519.2% in the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 135 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In related news, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 10,547 shares in the company, valued at $2,495,209.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 value 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 sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $226.70, for a total value 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. Over the last ninety days, insiders sold 46,642 shares of company stock worth $10,791,543. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Jefferies Financial Group initiated coverage on shares of Analog Devices in a report on Monday, May 13th. They issued a “buy” rating and a $250.00 price target for the company. Citigroup upped their price target on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Barclays upped their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.50.

Analog Devices Stock Performance

Shares of ADI stock traded up $5.55 on Wednesday, reaching $229.04. The stock had a trading volume of 2,558,416 shares, compared to its average volume of 3,358,749. The company has a 50 day simple moving average of $226.84 and a 200 day simple moving average of $210.87. 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, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock has a market cap of $113.65 billion, a P/E ratio of 55.11, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08.

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 company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’s revenue was down 24.8% on a year-over-year basis. During the same period last year, the company earned $2.49 earnings per share. Equities research analysts expect 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 will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Analog Devices 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.