Trustmark National Bank Trust Department Has $1.02 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Trustmark National Bank Trust Department decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,810 shares of the semiconductor company’s stock after selling 187 shares during the period. Trustmark National Bank Trust Department’s holdings in Analog Devices were worth $1,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. Reynders McVeigh Capital Management LLC increased its position in shares of Analog Devices by 1.2% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 260,654 shares of the semiconductor company’s stock worth $55,378,000 after purchasing an additional 3,160 shares during the period. SageView Advisory Group LLC boosted its position in shares of Analog Devices by 2.3% during the 4th quarter. SageView Advisory Group LLC now owns 4,244 shares of the semiconductor company’s stock worth $902,000 after acquiring an additional 97 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Analog Devices by 3.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 25,669 shares of the semiconductor company’s stock valued at $5,454,000 after acquiring an additional 803 shares during the last quarter. Advisors Capital Management LLC raised its position in Analog Devices by 23.4% during the fourth quarter. Advisors Capital Management LLC now owns 4,120 shares of the semiconductor company’s stock valued at $875,000 after purchasing an additional 780 shares in the last quarter. Finally, Sagespring Wealth Partners LLC bought a new stake in Analog Devices during the fourth quarter worth $2,156,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $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 sold a total of 26,684 shares of company stock worth $5,591,600 in the last quarter. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $178.60 on Tuesday. The firm has a market capitalization of $88.58 billion, a P/E ratio of 56.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $208.27 and its 200 day simple moving average is $215.55. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. 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 2.22%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio is currently 126.11%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADI shares. Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. UBS Group lifted their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Finally, Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $254.73.

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.