Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Chemung Canal Trust Co.

Chemung Canal Trust Co. increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 18.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,738 shares of the semiconductor company’s stock after acquiring an additional 569 shares during the period. Chemung Canal Trust Co.’s holdings in Analog Devices were worth $739,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after buying an additional 21,522 shares during the last quarter. Point72 Italy S.r.l. purchased a new position in Analog Devices in the fourth quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in Analog Devices in the fourth quarter valued at $850,000. CTC Alternative Strategies Ltd. purchased a new position in Analog Devices in the fourth quarter valued at $1,152,000. Finally, Sequoia Financial Advisors LLC increased its holdings in Analog Devices by 107.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after buying an additional 6,564 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last three months, insiders sold 50,121 shares of company stock worth $10,875,654. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ADI shares. Evercore ISI started coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, May 23rd. Stifel Nicolaus increased their target price on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a report on Monday, May 20th. Truist Financial raised their price objective on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group assumed coverage on Analog Devices in a report on Monday, May 13th. They set a “buy” rating and a $250.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.23.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $228.26 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The company has a market cap of $113.27 billion, a P/E ratio of 53.33, a PEG ratio of 3.85 and a beta of 1.12. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88. The company has a 50-day moving average price of $220.13 and a 200 day moving average price of $202.65.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm’s revenue was down 33.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.83 earnings per share. Research analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. Analog Devices’s payout ratio is 85.98%.

Analog Devices Company 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.