6,543 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT acquired 6,543 shares of Analog Devices, Inc., valued at approximately $1.32 million in its first quarter activities, indicating strong institutional interest in the semiconductor company.
• Analog Devices reported a quarterly earnings per share of $1.85, exceeding analysts' expectations of $1.70, with revenue up 22.3% year-over-year at $2.64 billion.
• The company declared a $0.99 quarterly dividend with a payout ratio of 107.90%, highlighting its commitment to returning value to shareholders.

Zions Bancorporation National Association UT acquired a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,543 shares of the semiconductor company's stock, valued at approximately $1,320,000.

Several other hedge funds have also recently bought and sold shares of the business. Hemington Wealth Management raised its stake in shares of Analog Devices by 11.4% during the 1st quarter. Hemington Wealth Management now owns 538 shares of the semiconductor company's stock worth $108,000 after purchasing an additional 55 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Analog Devices by 14.8% during the 1st quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock worth $89,000 after purchasing an additional 57 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Analog Devices by 0.4% during the 1st quarter. Proficio Capital Partners LLC now owns 14,523 shares of the semiconductor company's stock worth $2,929,000 after purchasing an additional 58 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Analog Devices by 1.1% during the 1st quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock worth $1,147,000 after purchasing an additional 60 shares in the last quarter. Finally, Sfmg LLC increased its holdings in shares of Analog Devices by 2.7% during the 1st quarter. Sfmg LLC now owns 2,301 shares of the semiconductor company's stock valued at $464,000 after acquiring an additional 60 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $223.95 on Friday. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.73. The firm has a market capitalization of $111.14 billion, a PE ratio of 61.02, a PEG ratio of 2.06 and a beta of 1.05. The business's 50 day moving average is $232.32 and its 200-day moving average is $215.72. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm earned $1.40 EPS. Analog Devices's revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.8%. Analog Devices's payout ratio is currently 107.90%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays increased their price objective on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Stifel Nicolaus increased their price objective on Analog Devices from $248.00 to $270.00 and gave the company a "buy" rating in a report on Friday, July 18th. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. Piper Sandler lowered their price objective on Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the sale, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.

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