Bank of Stockton Cuts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bank of Stockton lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,865 shares of the semiconductor company’s stock after selling 205 shares during the period. Analog Devices comprises about 1.0% of Bank of Stockton’s portfolio, making the stock its 21st largest position. Bank of Stockton’s holdings in Analog Devices were worth $3,191,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Sovereign Financial Group Inc. purchased a new stake in Analog Devices in the 1st quarter valued at about $237,000. Wealthcare Advisory Partners LLC grew its holdings in shares of Analog Devices by 28.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,045 shares of the semiconductor company’s stock valued at $800,000 after acquiring an additional 890 shares in the last quarter. Norway Savings Bank increased its position in shares of Analog Devices by 4.3% during the first quarter. Norway Savings Bank now owns 12,862 shares of the semiconductor company’s stock valued at $2,544,000 after acquiring an additional 535 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Analog Devices by 351.1% during the first quarter. Financial Management Professionals Inc. now owns 1,254 shares of the semiconductor company’s stock valued at $248,000 after acquiring an additional 976 shares during the last quarter. Finally, Independence Bank of Kentucky boosted its position in Analog Devices by 92.6% in the first quarter. Independence Bank of Kentucky now owns 624 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 300 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADI. JPMorgan Chase & Co. raised their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Morgan Stanley upped their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating 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 report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and dropped their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $4.18 during trading on Friday, hitting $233.86. The stock had a trading volume of 422,828 shares, compared to its average volume of 3,216,780. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The firm has a market cap of $116.05 billion, a price-to-earnings ratio of 53.66, a P/E/G ratio of 3.87 and a beta of 1.07. The business’s 50-day moving average is $226.59 and its 200 day moving average is $221.70.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.49 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.57%. Analog Devices’s payout ratio is presently 85.98%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the sale, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,495 shares of company stock valued at $20,794,658 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analog Devices 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.