Analog Devices, Inc. (NASDAQ:ADI) Stake Increased by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,576 shares of the semiconductor company’s stock after acquiring an additional 438 shares during the period. Plimoth Trust Co. LLC’s holdings in Analog Devices were worth $593,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft lifted its position in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 43 shares during the last quarter. Grove Bank & Trust raised its stake in Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 43 shares in the last quarter. CVA Family Office LLC lifted its holdings in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Legacy Financial Advisors Inc. grew its position in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its holdings in shares of Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADI. Barclays raised their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America decreased their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Morgan Stanley increased their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Price Performance

Shares of ADI traded down $2.66 during midday trading on Monday, reaching $225.67. The stock had a trading volume of 2,200,018 shares, compared to its average volume of 3,245,419. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The company has a market capitalization of $111.98 billion, a P/E ratio of 53.35, a P/E/G ratio of 3.87 and a beta of 1.07. The firm’s 50 day moving average price is $225.95 and its 200-day moving average price is $221.21. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 earnings per share. On average, analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,495 shares of company stock worth $20,794,658 over the last 90 days. 0.31% of the stock is owned by company insiders.

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.