M&T Bank Corp Sells 28,171 Shares of Analog Devices, Inc. (NASDAQ:ADI)

M&T Bank Corp lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 404,741 shares of the semiconductor company's stock after selling 28,171 shares during the quarter. M&T Bank Corp owned approximately 0.08% of Analog Devices worth $81,624,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Orion Capital Management LLC bought a new stake in Analog Devices during the 4th quarter valued at $27,000. Menard Financial Group LLC bought a new stake in Analog Devices during the 4th quarter valued at $27,000. Alpine Bank Wealth Management bought a new stake in Analog Devices during the 1st quarter valued at $27,000. Hopwood Financial Services Inc. bought a new stake in Analog Devices during the 4th quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC raised its holdings in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the period. Institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group lowered their target price on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a report on Monday. Oppenheimer boosted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Williams Trading set a $260.00 price target on shares of Analog Devices in a research report on Friday, May 23rd. Piper Sandler reduced their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, KeyCorp boosted their price target on shares of Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $257.67.

Analog Devices Price Performance

NASDAQ:ADI traded down $0.45 during midday trading on Friday, hitting $244.68. The company had a trading volume of 2,035,790 shares, compared to its average volume of 3,602,041. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $253.18. The stock's fifty day moving average price is $226.02 and its 200-day moving average price is $213.78. The company has a market capitalization of $121.42 billion, a PE ratio of 66.67, a P/E/G ratio of 2.26 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.62%. Analog Devices's payout ratio is 107.90%.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director directly owned 180,071 shares in the company, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,250 shares of company stock valued at $3,143,556. Company insiders own 0.33% of the company's stock.

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.