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

Somerset Trust Co grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,189 shares of the semiconductor company’s stock after acquiring an additional 425 shares during the quarter. Analog Devices comprises about 2.1% of Somerset Trust Co’s holdings, making the stock its 10th largest position. Somerset Trust Co’s holdings in Analog Devices were worth $5,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ADI. Amarillo National Bank increased its position in Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 54 shares in the last quarter. Keystone Financial Services increased its position in Analog Devices by 1.8% during the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock worth $623,000 after purchasing an additional 55 shares in the last quarter. Ancora Advisors LLC increased its position in Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 57 shares in the last quarter. Legacy Advisors LLC increased its position in Analog Devices by 2.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after purchasing an additional 59 shares in the last quarter. Finally, Wealth Alliance increased its position in Analog Devices by 3.6% during the 4th quarter. Wealth Alliance now owns 1,769 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

ADI traded up $2.99 during trading hours on Wednesday, hitting $235.38. 2,457,388 shares of the stock were exchanged, compared to its average volume of 3,421,240. The stock has a 50-day simple moving average of $213.96 and a 200-day simple moving average of $200.26. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The stock has a market cap of $116.80 billion, a price-to-earnings ratio of 55.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the business posted $2.83 earnings per share. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 85.98%.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. Insiders have sold 51,349 shares of company stock valued at $11,118,356 over the last three months. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23rd. Citigroup upped their price target on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Susquehanna upped their price target on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Truist Financial upped their price target on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Stifel Nicolaus upped their price target on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $243.23.

Check Out Our Latest Analysis on Analog Devices

About Analog Devices

(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.

Further Reading

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

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