Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Whittier Trust Co.

Whittier Trust Co. raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,693 shares of the semiconductor company’s stock after acquiring an additional 391 shares during the quarter. Whittier Trust Co.’s holdings in Analog Devices were worth $620,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ADI. Swedbank AB acquired a new stake in Analog Devices during the 1st quarter worth $537,171,000. Vanguard Group Inc. boosted its position in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board grew its stake in Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after buying an additional 1,753,536 shares during the last quarter. Raymond James & Associates increased its position in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after buying an additional 1,330,242 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays increased their target price 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. 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, Morgan Stanley increased their price objective 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 research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 30,000 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 $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock valued at $20,794,658 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $226.85 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The stock has a fifty day moving average of $226.59 and a two-hundred day moving average of $221.70. The company has a market capitalization of $112.57 billion, a price-to-earnings ratio of 53.00, a PEG ratio of 3.87 and a beta of 1.07.

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, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company posted $2.49 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

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.