Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Argent Trust Co

Argent Trust Co increased its holdings in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 14.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,366 shares of the semiconductor company’s stock after acquiring an additional 2,341 shares during the quarter. Argent Trust Co’s holdings in Analog Devices were worth $3,216,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Spire Wealth Management lifted its stake in shares of Analog Devices by 921.7% in the third quarter. Spire Wealth Management now owns 24,450 shares of the semiconductor company’s stock worth $4,281,000 after acquiring an additional 22,057 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares in the last quarter. Fosun International Ltd lifted its stake in shares of Analog Devices by 24.1% in the third quarter. Fosun International Ltd now owns 10,696 shares of the semiconductor company’s stock worth $1,873,000 after acquiring an additional 2,077 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in Analog Devices by 1.4% during the third quarter. Banque Cantonale Vaudoise now owns 31,968 shares of the semiconductor company’s stock valued at $5,597,000 after buying an additional 456 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. raised its stake in Analog Devices by 7.0% during the third quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock valued at $1,766,000 after buying an additional 658 shares in the last quarter. Institutional investors and hedge funds own 85.55% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of several research reports. Morgan Stanley upgraded Analog Devices from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $176.00 to $225.00 in a research note on Friday, November 17th. TD Cowen upped their price objective on Analog Devices from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, November 22nd. Susquehanna lowered their target price on Analog Devices from $215.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a report on Monday, January 29th. Finally, Truist Financial lowered their target price on Analog Devices from $213.00 to $206.00 and set a “buy” rating for the company in a report on Wednesday, November 22nd. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.56.

Check Out Our Latest Stock Report on Analog Devices

Analog Devices Price Performance

NASDAQ ADI opened at $193.06 on Monday. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $202.77. The stock’s 50-day moving average is $191.59 and its two-hundred day moving average is $182.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.37 and a quick ratio of 0.86. The firm has a market cap of $95.73 billion, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 2.82 and a beta of 1.19.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $2.01 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.01). The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. Analog Devices had a return on equity of 14.18% and a net margin of 26.94%. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.73 earnings per share. On average, analysts anticipate that Analog Devices, Inc. will post 7.05 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Monday, December 4th were paid a dividend of $0.86 per share. The ex-dividend date was Friday, December 1st. This represents a $3.44 annualized dividend and a yield of 1.78%. Analog Devices’s dividend payout ratio is 52.60%.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 17,038 shares of Analog Devices stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $183.66, for a total transaction of $3,129,199.08. Following the sale, the executive vice president now directly owns 5,815 shares of the company’s stock, valued at $1,067,982.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,125,860.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 17,038 shares of Analog Devices stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $183.66, for a total value of $3,129,199.08. Following the sale, the executive vice president now directly owns 5,815 shares in the company, valued at $1,067,982.90. The disclosure for this sale can be found here. Insiders have sold 37,038 shares of company stock worth $7,020,999 over the last three months. Company insiders own 0.31% of the company’s stock.

Analog Devices Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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