Vestcor Inc Buys 408 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Vestcor Inc grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 9,762 shares of the semiconductor company’s stock after acquiring an additional 408 shares during the quarter. Vestcor Inc’s holdings in Analog Devices were worth $2,247,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ADI. Diversified Trust Co lifted its position in shares of Analog Devices by 8.1% during the 2nd quarter. Diversified Trust Co now owns 4,077 shares of the semiconductor company’s stock worth $931,000 after buying an additional 304 shares during the last quarter. ORG Partners LLC lifted its position in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Analog Devices by 3.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock worth $16,912,000 after buying an additional 2,280 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Analog Devices by 3.7% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 2,197 shares of the semiconductor company’s stock worth $502,000 after buying an additional 78 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after buying an additional 43 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Down 1.6 %

ADI stock opened at $215.61 on Wednesday. Analog Devices, Inc. has a twelve month low of $181.80 and a twelve month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average is $222.95 and its 200-day moving average is $225.88. The firm has a market capitalization of $107.01 billion, a PE ratio of 65.53, a P/E/G ratio of 2.48 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company earned $2.01 earnings per share. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. Sell-side analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,000 shares of company stock valued at $22,596,300. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADI has been the subject of a number of recent research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

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.