First American Bank Buys 642 Shares of Analog Devices, Inc. (NASDAQ:ADI)

First American Bank increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,882 shares of the semiconductor company’s stock after acquiring an additional 642 shares during the period. First American Bank’s holdings in Analog Devices were worth $12,085,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the 3rd quarter worth approximately $28,000. Archer Investment Corp boosted its stake in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Financial Life Planners bought a new stake in Analog Devices during the 4th quarter valued at about $33,000. Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices during the third quarter valued at $43,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices in the fourth quarter worth approximately $41,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock opened at $223.85 on Friday. The stock has a market capitalization of $111.02 billion, a P/E ratio of 71.29, a P/E/G ratio of 2.85 and a beta of 1.04. The company’s fifty day moving average price is $217.19 and its 200 day moving average price is $220.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio is currently 126.11%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on ADI. Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Oppenheimer restated an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

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.