Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,918 shares of the semiconductor company's stock after selling 4,223 shares during the quarter. Comerica Bank's holdings in Analog Devices were worth $31,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock worth $10,432,961,000 after purchasing an additional 413,084 shares during the period. Geode Capital Management LLC boosted its position in shares of Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock worth $2,248,971,000 after acquiring an additional 247,737 shares during the last quarter. Franklin Resources Inc. grew its stake 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 acquiring an additional 1,189,940 shares in the last quarter. Norges Bank bought a new stake in Analog Devices in the 4th quarter valued at $1,755,958,000. Finally, FMR LLC lifted its stake in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after purchasing an additional 61,390 shares in the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Trading Down 0.3 %

Shares of NASDAQ:ADI traded down $0.69 during trading on Monday, reaching $197.90. 1,308,213 shares of the company were exchanged, compared to its average volume of 3,475,480. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market capitalization of $98.15 billion, a PE ratio of 63.03, a P/E/G ratio of 2.85 and a beta of 0.98. The business's fifty day simple moving average is $198.79 and its 200-day simple moving average is $211.37. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $1.73 EPS. Analog Devices's revenue was down 3.6% on a year-over-year basis. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 2.00%. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its board has authorized a stock buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research analyst reports. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Morgan Stanley set a $214.00 price target on Analog Devices in a report on Monday, April 21st. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating for the company. Finally, Citigroup reduced their price target on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Analog Devices currently has a consensus rating of "Moderate Buy" and a consensus price target of $250.43.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,809 shares of company stock worth $8,123,156. 0.33% of the stock is currently 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.