Equitable Trust Co. Purchases 2,683 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Equitable Trust Co. grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,640 shares of the semiconductor company’s stock after purchasing an additional 2,683 shares during the quarter. Analog Devices makes up about 1.0% of Equitable Trust Co.’s portfolio, making the stock its 25th largest position. Equitable Trust Co.’s holdings in Analog Devices were worth $17,770,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ADI. Charles Schwab Investment Management Inc. boosted its stake in Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after acquiring an additional 39,186 shares in the last quarter. Swiss National Bank boosted its stake in Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after acquiring an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp bought a new position in Analog Devices during the fourth quarter worth $460,000. Finally, Summit Global Investments bought a new position in shares of Analog Devices in the third quarter valued at $867,000. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ADI shares. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Truist Financial raised their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

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 on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 1.3 %

ADI stock opened at $205.21 on Monday. The company has a market capitalization of $101.81 billion, a PE ratio of 62.37, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The company’s 50 day moving average price is $215.21 and its two-hundred day moving average price is $220.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.01 EPS. As a group, analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

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.