Stock Yards Bank & Trust Co. Sells 598 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Stock Yards Bank & Trust Co. lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 133,727 shares of the semiconductor company’s stock after selling 598 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Analog Devices were worth $30,525,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Edgestream Partners L.P. acquired a new stake in Analog Devices during the 2nd quarter worth approximately $618,000. Citizens Financial Group Inc. RI bought a new position in Analog Devices during the second quarter worth $402,000. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 171,893 shares during the period. Waycross Partners LLC boosted its stake in Analog Devices by 11.8% in the 2nd quarter. Waycross Partners LLC now owns 86,570 shares of the semiconductor company’s stock valued at $19,760,000 after purchasing an additional 9,136 shares during the period. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $1,938,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders have sold 31,495 shares of company stock valued at $7,181,458 in the last ninety days. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $223.28 on Tuesday. The company has a market cap of $110.80 billion, a P/E ratio of 52.17, a P/E/G ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The firm’s fifty day moving average is $224.49 and its two-hundred day moving average is $215.47.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the firm posted $2.49 earnings per share. The business’s revenue was down 24.8% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Wall Street Analyst Weigh In

ADI has been the subject of several analyst reports. Truist Financial dropped their target price on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Citigroup raised their target price on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Finally, The Goldman Sachs Group upped their price target on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.45.

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.