Analog Devices, Inc. (NASDAQ:ADI) Stake Raised by Huntington National Bank

Huntington National Bank boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 471,158 shares of the semiconductor company’s stock after buying an additional 11,225 shares during the quarter. Analog Devices accounts for about 0.8% of Huntington National Bank’s investment portfolio, making the stock its 28th largest position. Huntington National Bank owned approximately 0.09% of Analog Devices worth $108,447,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ADI. Swedbank AB acquired a new stake in shares of Analog Devices in the first quarter valued at approximately $537,171,000. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after buying an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares during the period. Raymond James & Associates increased its position in shares of Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of several research analyst reports. Morgan Stanley upped their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Barclays upped their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Down 3.1 %

ADI opened at $212.84 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $105.67 billion, a PE ratio of 63.92, a PEG ratio of 3.08 and a beta of 1.08. The firm’s 50 day simple moving average is $226.34 and its two-hundred day simple moving average is $225.11. Analog Devices, Inc. has a 1-year low of $175.00 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period last year, the business earned $2.49 earnings per share. As a group, equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 110.51%.

Insider Buying and Selling

In other news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 over the last three months. Company insiders own 0.31% of the company’s stock.

About Analog Devices

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.