WASHINGTON TRUST Co Sells 1,755 Shares of Analog Devices, Inc. (NASDAQ:ADI)

WASHINGTON TRUST Co trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,726 shares of the semiconductor company's stock after selling 1,755 shares during the period. WASHINGTON TRUST Co's holdings in Analog Devices were worth $19,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Midwest Professional Planners LTD. raised its holdings in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after acquiring an additional 53 shares in the last quarter. Portland Global Advisors LLC raised its holdings in Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after purchasing an additional 53 shares in the last quarter. Cassady Schiller Wealth Management LLC lifted its position in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the period. Continuum Advisory LLC lifted its position in shares of Analog Devices by 14.8% in 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 during the period. Finally, Keystone Financial Services boosted its stake in shares of Analog Devices by 1.6% during the 1st quarter. Keystone Financial Services now owns 3,791 shares of the semiconductor company's stock valued at $765,000 after purchasing an additional 61 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer owned 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director directly owned 180,071 shares in the company, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $3,143,556 over the last three months. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cfra Research downgraded Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. Williams Trading set a $260.00 price target on shares of Analog Devices in a research report on Friday, May 23rd. Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. Stifel Nicolaus boosted their price target on Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Piper Sandler cut their target price on Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Trading Up 0.4%

Analog Devices stock traded up $0.93 during midday trading on Thursday, reaching $246.08. The stock had a trading volume of 1,837,392 shares, compared to its average volume of 3,585,342. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The firm has a market cap of $122.12 billion, a price-to-earnings ratio of 67.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a fifty day moving average of $219.06 and a 200 day moving average of $212.25.

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, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The company's quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

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.