Truist Financial Corp Has $207.37 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Truist Financial Corp trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 30.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,028,282 shares of the semiconductor company's stock after selling 460,880 shares during the quarter. Truist Financial Corp owned 0.21% of Analog Devices worth $207,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ADI. Brighton Jones LLC boosted its holdings 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 worth $397,000 after acquiring an additional 529 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Analog Devices by 28.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 393 shares of the semiconductor company's stock worth $83,000 after acquiring an additional 88 shares in the last quarter. Keybank National Association OH boosted its holdings in shares of Analog Devices by 17.0% in the 4th quarter. Keybank National Association OH now owns 14,572 shares of the semiconductor company's stock worth $3,096,000 after acquiring an additional 2,113 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Analog Devices by 12.9% in the 4th quarter. Assetmark Inc. now owns 79,386 shares of the semiconductor company's stock worth $16,866,000 after acquiring an additional 9,084 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Analog Devices by 4.0% in the 4th quarter. Proficio Capital Partners LLC now owns 14,465 shares of the semiconductor company's stock worth $3,073,000 after acquiring an additional 562 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director owned 180,071 shares in the company, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on 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 completion of the sale, the chief executive officer owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock valued at $3,143,556. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Evercore ISI boosted their target price on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Citigroup upped their price objective on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Oppenheimer upped their price objective on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. KGI Securities began coverage on Analog Devices in a report on Friday, May 23rd. They set a "buy" rating on the stock. Finally, Noble Financial raised Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.75.

Analog Devices Trading Up 0.4%

Shares of Analog Devices stock traded up $0.93 on Friday, hitting $246.08. 1,837,392 shares of the company's stock traded hands, compared to its average volume of 3,599,370. The firm's 50-day moving average price is $221.10 and its two-hundred day moving average price is $212.71. The stock has a market capitalization of $122.12 billion, a PE ratio of 67.05, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data 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 net margin of 18.65% and a return on equity of 9.56%. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The firm's quarterly revenue was up 22.3% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend 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.