Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,727 shares of the semiconductor company’s stock after selling 598 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Analog Devices were worth $30,525,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Point72 Italy S.r.l. acquired a new stake in shares of Analog Devices in the fourth quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth about $850,000. Capital International Investors boosted its stake in shares of Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after purchasing an additional 246,799 shares during the period. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Analog Devices by 1,055.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after purchasing an additional 208,522 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Analog Devices by 16.2% during the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after buying an additional 10,106 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $223.28 on Tuesday. The company’s 50 day simple moving average is $224.49 and its 200-day simple moving average is $215.47. The firm has a market cap of $110.80 billion, a PE ratio of 52.17, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm earned $2.49 EPS. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices, Inc. will post 6.33 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. Shareholders of record on Tuesday, September 3rd will be paid a $0.92 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.65%. Analog Devices’s payout ratio is currently 85.98%.

Insider Activity

In other news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,672,108.91. The disclosure for this sale can be found here. Insiders sold a total of 31,495 shares of company stock valued at $7,181,458 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ADI shares. Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Robert W. Baird upped their price target on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Susquehanna increased their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Sanford C. Bernstein raised their target price on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $251.45.

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.