Fulton Bank N.A. Boosts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Fulton Bank N.A. increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,996 shares of the semiconductor company’s stock after buying an additional 60 shares during the period. Fulton Bank N.A.’s holdings in Analog Devices were worth $424,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADI. Raymond James & Associates boosted its stake in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after buying an additional 1,422,054 shares during the last quarter. Franklin Resources Inc. lifted its position in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. International Assets Investment Management LLC grew its position in Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after acquiring an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after purchasing an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Truist Financial raised their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, Morgan Stanley reduced their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.48.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $11,029,300 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Analog Devices Trading Down 3.7 %

NASDAQ ADI opened at $212.37 on Friday. The stock has a market cap of $105.40 billion, a P/E ratio of 64.55, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a fifty day simple moving average of $216.48 and a two-hundred day simple moving average of $222.97.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Analog Devices 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.