Park National Corp OH Sells 6,835 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Park National Corp OH reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,830 shares of the semiconductor company's stock after selling 6,835 shares during the period. Analog Devices comprises 1.5% of Park National Corp OH's investment portfolio, making the stock its 16th largest holding. Park National Corp OH's holdings in Analog Devices were worth $39,896,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Brighton Jones LLC grew its position in shares of Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after buying an additional 529 shares during the last quarter. Blue Trust Inc. boosted its holdings in Analog Devices by 20.4% in the fourth quarter. Blue Trust Inc. now owns 5,801 shares of the semiconductor company's stock valued at $1,335,000 after acquiring an additional 982 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Analog Devices by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 78,709 shares of the semiconductor company's stock valued at $16,723,000 after acquiring an additional 1,524 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in Analog Devices by 26.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,557 shares of the semiconductor company's stock valued at $543,000 after acquiring an additional 537 shares during the last quarter. Finally, Nilsine Partners LLC boosted its holdings in Analog Devices by 74.0% in the fourth quarter. Nilsine Partners LLC now owns 1,832 shares of the semiconductor company's stock valued at $389,000 after acquiring an additional 779 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock worth $8,735,156 over the last three months. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Performance

Analog Devices stock traded down $2.76 during mid-day trading on Friday, reaching $212.99. 10,922,443 shares of the company's stock were exchanged, compared to its average volume of 3,565,401. The business's fifty day simple moving average is $198.17 and its 200 day simple moving average is $210.03. The firm has a market capitalization of $105.70 billion, a PE ratio of 67.83, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Analyst Ratings Changes

ADI has been the topic of a number of analyst reports. Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Morgan Stanley cut their target price on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Piper Sandler cut their price target on Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. increased their target price on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company reiterated a "positive" rating on shares of Analog Devices in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $248.63.

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.