First Citizens Bank & Trust Co. Purchases 103 Shares of Analog Devices, Inc. (NASDAQ:ADI)

First Citizens Bank & Trust Co. increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,625 shares of the semiconductor company’s stock after purchasing an additional 103 shares during the period. First Citizens Bank & Trust Co.’s holdings in Analog Devices were worth $8,631,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. Archer Investment Corp boosted its holdings in Analog Devices by 101.4% during the 3rd 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 last quarter. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices in the 3rd quarter worth $43,000. Reston Wealth Management LLC purchased a new stake in Analog Devices in the 3rd quarter valued at about $48,000. Finally, Northwest Investment Counselors LLC bought a new stake in Analog Devices during the third quarter worth $80,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, 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 50,000 shares of company stock worth $11,029,300 over the last quarter. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Piper Sandler reduced their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Finally, Morgan Stanley lowered their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Performance

NASDAQ:ADI opened at $217.37 on Friday. The stock’s fifty day moving average is $216.42 and its 200 day moving average is $222.27. The firm has a market capitalization of $107.85 billion, a PE ratio of 66.07, a PEG ratio of 2.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.01 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

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.