Fiduciary Trust Co Raises Position in Analog Devices, Inc. (NASDAQ:ADI)

Fiduciary Trust Co lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 15.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,259 shares of the semiconductor company’s stock after purchasing an additional 8,173 shares during the quarter. Fiduciary Trust Co’s holdings in Analog Devices were worth $14,330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares during the period. Van ECK Associates Corp boosted its holdings in Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. American Century Companies Inc. grew its position in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after purchasing an additional 767,534 shares during the period. Legal & General Group Plc raised its stake in shares of Analog Devices by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock valued at $963,788,000 after buying an additional 211,202 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Analog Devices by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock valued at $720,933,000 after buying an additional 171,893 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.9 %

NASDAQ ADI opened at $217.17 on Thursday. The business’s fifty day simple moving average is $224.64 and its 200-day simple moving average is $225.86. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a market cap of $107.82 billion, a PE ratio of 65.22, a P/E/G ratio of 3.15 and a beta of 1.08. Analog Devices, Inc. has a 52 week low of $179.63 and a 52 week high of $244.14.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices’s payout ratio is 110.51%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,672,108.91. This represents a 16.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $24,883,200 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of several recent research reports. Morgan Stanley reduced their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday. Piper Sandler decreased their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial cut their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

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.