Haverford Trust Co Has $507,000 Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Haverford Trust Co trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 30.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,385 shares of the semiconductor company’s stock after selling 1,059 shares during the period. Haverford Trust Co’s holdings in Analog Devices were worth $507,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ADI. Vanguard Group Inc. raised its holdings in Analog Devices by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock worth $10,432,961,000 after purchasing an additional 413,084 shares during the last quarter. State Street Corp grew its position in shares of Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after buying an additional 106,664 shares during the period. Geode Capital Management LLC raised its stake in shares of Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after buying an additional 135,838 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. Finally, FMR LLC boosted its stake in Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after acquiring an additional 665,149 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent research reports. Benchmark upped their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Truist Financial boosted their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Transactions at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $5,082,860 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

ADI stock opened at $213.58 on Wednesday. The stock has a 50-day moving average price of $217.13 and a two-hundred day moving average price of $219.78. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The stock has a market cap of $105.93 billion, a PE ratio of 68.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. Analog Devices’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.85%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.