Trust Co. of Toledo NA OH Has $4.27 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Trust Co. of Toledo NA OH grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the third quarter, Holdings Channel.com reports. The firm owned 18,531 shares of the semiconductor company’s stock after buying an additional 134 shares during the period. Trust Co. of Toledo NA OH’s holdings in Analog Devices were worth $4,265,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Abacus Planning Group Inc. raised its holdings in shares of Analog Devices by 8.3% during the third quarter. Abacus Planning Group Inc. now owns 1,034 shares of the semiconductor company’s stock worth $238,000 after acquiring an additional 79 shares in the last quarter. Cavalry Management Group LLC acquired a new position in Analog Devices in the 2nd quarter worth about $209,000. Centaurus Financial Inc. raised its stake in shares of Analog Devices by 163.8% during the 2nd quarter. Centaurus Financial Inc. now owns 1,873 shares of the semiconductor company’s stock worth $427,000 after purchasing an additional 1,163 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of Analog Devices during the 2nd quarter valued at about $2,716,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Analog Devices in the 2nd quarter valued at approximately $17,270,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Up 1.8 %

ADI opened at $227.73 on Thursday. The company has a market capitalization of $113.00 billion, a P/E ratio of 53.21, a P/E/G ratio of 3.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm’s fifty day moving average price is $222.68 and its two-hundred day moving average price is $218.04. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 earnings per share. On average, analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analyst Ratings Changes

A number of research firms have issued reports on ADI. Morgan Stanley lifted 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. Bank of America reduced their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Barclays increased 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 report on Thursday, July 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.80.

Insider Activity at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock valued at $20,794,658 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

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.