Analog Devices, Inc. (NASDAQ:ADI) Holdings Reduced by Somerset Trust Co

Somerset Trust Co lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% in the 3rd quarter, Holdings Channel reports. The firm owned 25,846 shares of the semiconductor company’s stock after selling 228 shares during the period. Analog Devices accounts for 2.2% of Somerset Trust Co’s portfolio, making the stock its 9th biggest holding. Somerset Trust Co’s holdings in Analog Devices were worth $5,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Italy S.r.l. bought a new stake in Analog Devices during the fourth quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. purchased a new stake in Analog Devices in the 4th quarter worth approximately $850,000. Bradley Foster & Sargent Inc. CT raised its stake in Analog Devices by 1,055.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after acquiring an additional 208,522 shares during the period. Profund Advisors LLC raised its stake in Analog Devices by 16.2% during the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after acquiring an additional 10,106 shares during the period. Finally, Norden Group LLC boosted its position in shares of Analog Devices by 1,534.0% in the first quarter. Norden Group LLC now owns 27,076 shares of the semiconductor company’s stock worth $5,355,000 after purchasing an additional 25,419 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of ADI stock opened at $233.24 on Thursday. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. 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 stock has a fifty day simple moving average of $222.95 and a two-hundred day simple moving average of $219.29. The stock has a market capitalization of $115.74 billion, a price-to-earnings ratio of 54.50, a P/E/G ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS 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 the consensus estimate of $2.27 billion. During the same quarter last year, the firm posted $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, analysts predict that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.58%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at $18,106,760.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at $18,106,760.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,495 shares of company stock valued at $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ADI. Morgan Stanley upped their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

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.