Fifth Third Bancorp Has $20.90 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Fifth Third Bancorp trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 98,365 shares of the semiconductor company’s stock after selling 1,115 shares during the period. Fifth Third Bancorp’s holdings in Analog Devices were worth $20,899,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in shares of Analog Devices by 9.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 24,754 shares of the semiconductor company’s stock worth $5,651,000 after purchasing an additional 2,216 shares during the last quarter. AXA S.A. increased its position in Analog Devices by 32.7% during the second quarter. AXA S.A. now owns 75,807 shares of the semiconductor company’s stock worth $17,304,000 after buying an additional 18,686 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new position in Analog Devices during the second quarter worth $507,000. Driehaus Capital Management LLC bought a new position in Analog Devices during the second quarter valued at about $25,047,000. Finally, SkyView Investment Advisors LLC lifted its position in shares of Analog Devices by 12.5% in the second quarter. SkyView Investment Advisors LLC now owns 3,133 shares of the semiconductor company’s stock worth $715,000 after buying an additional 349 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ADI shares. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Barclays cut their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Stock Performance

NASDAQ ADI opened at $217.37 on Friday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $107.85 billion, a P/E ratio of 66.07, a PEG ratio of 2.57 and a beta of 1.05. The company’s 50-day simple moving average is $216.42 and its 200 day simple moving average is $222.27.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.01 EPS. As a group, research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s payout ratio is presently 111.85%.

Insider Activity

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred 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 directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Analog Devices 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.