Trustmark National Bank Trust Department Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Trustmark National Bank Trust Department increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,155 shares of the semiconductor company’s stock after acquiring an additional 336 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Analog Devices were worth $1,020,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Amarillo National Bank raised its holdings in shares of Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 54 shares in the last quarter. Mcdonald Partners LLC raised its position in shares of Analog Devices by 0.7% during the 1st quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock valued at $1,497,000 after buying an additional 54 shares in the last quarter. Keystone Financial Services lifted its holdings in shares of Analog Devices by 1.8% in the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 55 shares during the last quarter. Signaturefd LLC grew its position in Analog Devices by 0.5% in the first quarter. Signaturefd LLC now owns 11,003 shares of the semiconductor company’s stock worth $2,176,000 after acquiring an additional 59 shares in the last quarter. Finally, Wealth Alliance raised its position in Analog Devices by 3.6% during the fourth quarter. Wealth Alliance now owns 1,769 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 61 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 3.4 %

NASDAQ ADI traded down $8.14 during trading on Tuesday, reaching $231.90. 2,017,480 shares of the company’s stock traded hands, compared to its average volume of 3,255,322. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market cap of $115.07 billion, a price-to-earnings ratio of 56.08, a price-to-earnings-growth ratio of 3.90 and a beta of 1.08. The company’s 50 day simple moving average is $231.09 and its two-hundred day simple moving average is $206.98.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. Analog Devices’s revenue was down 33.8% compared to the same quarter last year. During the same period last year, the company posted $2.83 earnings per share. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were paid a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.59%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ADI shares. Oppenheimer boosted their target price on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. UBS Group increased their target price on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Jefferies Financial Group began coverage on shares of Analog Devices in a research note on Monday, May 13th. They set a “buy” rating and a $250.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23rd. Finally, Evercore ISI started coverage on Analog Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $245.50.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,642 shares of company stock worth $10,481,343. Corporate insiders own 0.31% of the company’s stock.

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.