Somerset Trust Co Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Somerset Trust Co grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,224 shares of the semiconductor company’s stock after buying an additional 378 shares during the period. Analog Devices comprises 2.1% of Somerset Trust Co’s holdings, making the stock its 11th biggest position. Somerset Trust Co’s holdings in Analog Devices were worth $5,572,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter worth $28,000. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the period. Peterson Financial Group Inc. bought a new stake in Analog Devices during the 3rd quarter valued at approximately $43,000. Reston Wealth Management LLC purchased a new position in Analog Devices in the 3rd quarter worth approximately $48,000. Finally, Northwest Investment Counselors LLC bought a new position in Analog Devices in the 3rd quarter worth approximately $80,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Up 1.9 %

Shares of ADI opened at $219.16 on Friday. The company’s fifty day simple moving average is $215.78 and its 200-day simple moving average is $222.60. The company has a market cap of $108.74 billion, a P/E ratio of 66.61, a P/E/G ratio of 2.43 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company posted $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Truist Financial raised their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.57.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $11,029,300 over the last quarter. Company insiders own 0.31% of the company’s stock.

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.