Greenleaf Trust Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Greenleaf Trust increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,242 shares of the semiconductor company’s stock after purchasing an additional 68 shares during the period. Greenleaf Trust’s holdings in Analog Devices were worth $2,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ADI. Centaurus Financial Inc. lifted its holdings in shares of Analog Devices by 163.8% in the 2nd quarter. Centaurus Financial Inc. now owns 1,873 shares of the semiconductor company’s stock valued at $427,000 after purchasing an additional 1,163 shares during the last quarter. Czech National Bank raised its stake in shares of Analog Devices by 7.0% during the 3rd quarter. Czech National Bank now owns 101,084 shares of the semiconductor company’s stock worth $23,267,000 after buying an additional 6,584 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Analog Devices by 30.4% during the 3rd quarter. GAMMA Investing LLC now owns 8,237 shares of the semiconductor company’s stock worth $1,896,000 after buying an additional 1,920 shares in the last quarter. IAM Advisory LLC raised its stake in shares of Analog Devices by 2.2% during the 3rd quarter. IAM Advisory LLC now owns 8,431 shares of the semiconductor company’s stock worth $1,941,000 after buying an additional 181 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its stake in shares of Analog Devices by 6.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 3,595 shares of the semiconductor company’s stock worth $827,000 after buying an additional 204 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Wells Fargo & Company assumed coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $211.89 on Monday. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The stock has a market cap of $105.12 billion, a PE ratio of 64.40, a price-to-earnings-growth ratio of 2.41 and a beta of 1.05. The business’s fifty day moving average price is $216.43 and its two-hundred day moving average price is $221.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

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.