Trust Point Inc. Sells 1,190 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Trust Point Inc. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 46.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,355 shares of the semiconductor company's stock after selling 1,190 shares during the period. Trust Point Inc.'s holdings in Analog Devices were worth $273,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Analog Devices during the fourth quarter valued at about $1,755,958,000. Raymond James Financial Inc. purchased a new position in shares of Analog Devices during the 4th quarter valued at about $833,386,000. Proficio Capital Partners LLC grew its stake in shares of Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after acquiring an additional 3,059,349 shares during the period. GAMMA Investing LLC increased its holdings in Analog Devices by 25,460.1% in the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after acquiring an additional 2,203,062 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after acquiring an additional 1,186,981 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on 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 transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred 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 now owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,934 shares of company stock worth $5,807,196. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on ADI shares. Benchmark reiterated a "buy" rating and issued a $260.00 price target (down from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Truist Financial increased their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Cfra Research downgraded Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Morgan Stanley cut their target price on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, Oppenheimer boosted their price target on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $250.50.

Analog Devices Price Performance

ADI opened at $227.44 on Wednesday. The company has a market capitalization of $112.87 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 2.14 and a beta of 1.00. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The business's fifty day simple moving average is $206.88 and its 200-day simple moving average is $210.92.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the business earned $1.40 EPS. The firm's quarterly revenue was up 22.3% on a year-over-year basis. On average, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analog Devices Announces Dividend

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 given a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.74%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Analog Devices Company 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.

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