Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Fulton Bank N.A.

Fulton Bank N.A. boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 12.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,264 shares of the semiconductor company’s stock after acquiring an additional 141 shares during the period. Fulton Bank N.A.’s holdings in Analog Devices were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Fragasso Financial Advisors Inc grew its stake in Analog Devices by 6.9% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 1,110 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 72 shares during the last quarter. Mather Group LLC. grew its stake in Analog Devices by 19.7% in the 2nd quarter. Mather Group LLC. now owns 4,160 shares of the semiconductor company’s stock valued at $950,000 after acquiring an additional 685 shares during the last quarter. Trust Co. of Toledo NA OH grew its stake in Analog Devices by 2.3% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 18,397 shares of the semiconductor company’s stock valued at $4,199,000 after acquiring an additional 418 shares during the last quarter. City State Bank grew its stake in Analog Devices by 30.7% in the 2nd quarter. City State Bank now owns 682 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 160 shares during the last quarter. Finally, Boston Common Asset Management LLC grew its stake in Analog Devices by 12.1% in the 2nd quarter. Boston Common Asset Management LLC now owns 36,532 shares of the semiconductor company’s stock valued at $8,339,000 after acquiring an additional 3,943 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Champy sold 4,200 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total transaction of $980,910.00. Following the sale, the director now owns 6,371 shares in the company, valued at approximately $1,487,947.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,642 shares of company stock worth $10,791,543. Company insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 2.2 %

NASDAQ ADI traded up $4.32 during mid-day trading on Tuesday, hitting $204.88. The company’s stock had a trading volume of 4,669,469 shares, compared to its average volume of 3,362,161. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The stock’s fifty day simple moving average is $230.75 and its two-hundred day simple moving average is $209.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $101.66 billion, a P/E ratio of 48.66, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the firm posted $2.83 earnings per share. Analog Devices’s revenue for the quarter was down 33.8% compared to the same quarter last year. Research analysts expect that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.80%. Analog Devices’s payout ratio is 85.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ADI shares. The Goldman Sachs Group increased their price objective on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Truist Financial raised their price target on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. UBS Group raised their price target on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Stifel Nicolaus raised their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $245.50.

About Analog Devices

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.