Huntington National Bank Buys 11,225 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Huntington National Bank raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,158 shares of the semiconductor company’s stock after purchasing an additional 11,225 shares during the period. Analog Devices makes up approximately 0.8% of Huntington National Bank’s holdings, making the stock its 28th largest holding. Huntington National Bank’s holdings in Analog Devices were worth $108,447,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Analog Devices in the first quarter worth about $537,171,000. Vanguard Group Inc. increased its holdings in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after buying an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Analog Devices by 17,535,360.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after buying an additional 1,753,536 shares during the period. Raymond James & Associates increased its holdings in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after buying an additional 1,330,242 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 3.1 %

Shares of Analog Devices stock opened at $212.84 on Thursday. Analog Devices, Inc. has a fifty-two week low of $175.00 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market capitalization of $105.67 billion, a P/E ratio of 63.92, a P/E/G ratio of 3.08 and a beta of 1.08. The company has a fifty day moving average of $226.34 and a 200 day moving average of $225.11.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.49 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. Analog Devices’s payout ratio is 110.51%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock worth $25,229,958 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADI shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley raised their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $249.80.

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.