Stock Yards Bank & Trust Co. decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,178 shares of the semiconductor company's stock after selling 10,310 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Analog Devices were worth $8,708,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. CVA Family Office LLC increased its holdings in Analog Devices by 51.0% during the first quarter. CVA Family Office LLC now owns 394 shares of the semiconductor company's stock valued at $79,000 after buying an additional 133 shares during the last quarter. Everhart Financial Group Inc. boosted its position in shares of Analog Devices by 29.3% during the first quarter. Everhart Financial Group Inc. now owns 4,116 shares of the semiconductor company's stock worth $830,000 after acquiring an additional 933 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its position in shares of Analog Devices by 2.0% during the first quarter. NorthCrest Asset Manangement LLC now owns 109,322 shares of the semiconductor company's stock worth $22,047,000 after acquiring an additional 2,121 shares during the last quarter. Union Bancaire Privee UBP SA lifted its position in Analog Devices by 20.6% during the first quarter. Union Bancaire Privee UBP SA now owns 9,587 shares of the semiconductor company's stock valued at $1,919,000 after purchasing an additional 1,638 shares during the last quarter. Finally, apricus wealth LLC lifted its position in Analog Devices by 17.0% during the first quarter. apricus wealth LLC now owns 1,383 shares of the semiconductor company's stock valued at $279,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 86.81% of the company's stock.
Insider Activity at Analog Devices
In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction 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 directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,934 shares of company stock worth $6,643,956 in the last three months. Company insiders own 0.33% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on ADI. KGI Securities began coverage on shares of Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating for the company. Benchmark reissued a "buy" rating and set a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Citigroup raised their target price on shares of Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, Cowen reissued a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $248.63.
Check Out Our Latest Analysis on ADI
Analog Devices Stock Performance
Shares of ADI traded down $7.09 during trading hours on Friday, hitting $225.03. The stock had a trading volume of 3,349,531 shares, compared to its average volume of 3,576,995. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm has a 50-day moving average price of $204.95 and a 200 day moving average price of $210.75. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The firm has a market capitalization of $111.67 billion, a price-to-earnings ratio of 71.67, a PEG ratio of 2.85 and a beta of 1.00.
Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the business posted $1.40 EPS. The business's revenue was up 22.3% compared to the same quarter last year. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.
Analog Devices announced that its board has initiated a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
Analog Devices Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.
Analog Devices Company Profile
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Free Report)
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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