Central Pacific Bank Trust Division Acquires 75 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Central Pacific Bank Trust Division grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,346 shares of the semiconductor company’s stock after purchasing an additional 75 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Analog Devices were worth $286,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Analog Devices by 5.1% in the fourth quarter. GAMMA Investing LLC now owns 8,653 shares of the semiconductor company’s stock worth $1,838,000 after buying an additional 416 shares during the last quarter. Versant Capital Management Inc increased its holdings in Analog Devices by 36.4% in the 4th quarter. Versant Capital Management Inc now owns 1,203 shares of the semiconductor company’s stock worth $256,000 after acquiring an additional 321 shares during the last quarter. Principal Financial Group Inc. raised its stake in Analog Devices by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 605,596 shares of the semiconductor company’s stock valued at $139,390,000 after acquiring an additional 16,051 shares during the period. Lord Abbett & CO. LLC lifted its holdings in Analog Devices by 0.3% during the third quarter. Lord Abbett & CO. LLC now owns 794,359 shares of the semiconductor company’s stock valued at $182,838,000 after purchasing an additional 2,097 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in Analog Devices during the third quarter worth about $20,194,000. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $11,029,300. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Morgan Stanley dropped their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Price Performance

ADI stock opened at $215.37 on Friday. The firm has a market cap of $106.89 billion, a P/E ratio of 65.46, a P/E/G ratio of 2.47 and a beta of 1.05. The firm’s fifty day moving average is $217.62 and its 200 day moving average is $223.47. Analog Devices, Inc. has a 52 week low of $181.80 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm earned $2.01 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

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.